According to TETFund Chairman and former Katsina State Governor, Aminu Masari, the decision was made due to the high foreign exchange rate and the rising cost of overseas training.
Masari disclosed that the Akwa Ibom State University has received over N14.4 billion from TETFund in the past 15 years, with a substantial portion already accessed and only N2.67 billion outstanding.
He commended the university's management for making good use of TETFund infrastructure funds, citing the commissioning of five major projects at the Ikot Akpaden and Obio Akpa campuses.
The projects include:
- Faculty of Biological Sciences
- Faculty of Physical Sciences
- Faculty of Engineering
- Faculty of Management Sciences
- Faculty of Agriculture's Laboratory and Classroom/Administrative buildings
The Vice Chancellor of Akwa Ibom State University, Prof. Nse Essien, thanked TETFund for the projects, which will enable advanced research, laboratory work, and promote innovation and STEM education.