FG Releases N38bn To 30 Universities

THE National Universities Commission (NUC) has announced that it has given a whopping sum of N37,508,886,097.53 to the 30 federal universities and inter-university centres across the country.
The amount, the commission said, included overhead and personnel cost for the months of January to July, 2011 which represented the first, second and third quarters of the year.

UNILAG Gate

The breakdown of the money showed that the universities got between N70,461,638 and N245,799,785 for overhead cost, while they also got between N22,864,588.00 and N913,722,508.00 for each month representing the three quarters.
The commission said it had resolved to publish allocations made to all Federal universities and inter-university centres in the interest of accountability and transparency.
The figure indicated that the overhead cost for the first quarter ( January to March) for the universities was N1,152,391,149. The same amount was also allocated to the universities  for the second quarter (March to May) and N1,995,320,459.00 for the third quarter (May to July).
However, the NUC did not disclose the amount for the personnel cost for the months covering January to April. The figure for the personnel cost for the universities showed a rhyme figure of N11,066,261,113.51 for the months of May, June and July.
Source