By Oyinkansayo Wole-Bodunde.
The Federal Government has made a significant decision regarding research funding for federal universities and research institutions.
In a recent letter to university Vice Chancellors, the National Universities Commission’s Acting Executive Secretary, Chris Maiyaki, announced that third-party research grants will no longer be included in the Treasury Single Account (TSA).
This directive, conveyed by the Minister of Education, Prof. Tahir Mamman, and instructed by the President, aims to give universities and research institutions more control over their funding.
The decision allows these institutions to manage their endowment funds independently, without being subject to the TSA. This means they can now operate their endowment fund accounts in commercial banks, giving them greater autonomy and flexibility.
The letter from the National Universities Commission references the President’s instruction, dated July 23, 2024, which outlines this new approach to research funding.
This change is expected to have a positive impact on the research community, allowing for more innovation and progress in various fields of study.
