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President Buhari graciously approves N22.68billion and N20billion as retirement benefits of ex-workers of the Nigerian Airways and ASUU's request for public university revitalization: Finance Minister

President Muhammadu Buhari has graciously approved the immediate release of N22.68billion and N20billion as retirement benefits of ex-workers of the Nigeria Airways limited and ASUU's request for revitalization fund of public universities.



Regarding the settlement of the outstanding retirement benefits due to the ex-workers of the Nigeria Airways , the initial submission for their retirement benefits was N78 billion.



The amount was verified by relevant stakeholders in line with the condition of service of Nigeria Airways limited in liquidation and other extant rules and regulations.

At the end of verification, N45 billion was agreed as total retirement benefits of affected staff.

Regarding the funding measures for the revitalization of public universities , you may recalled that ASUU signed a Memorandum of understanding with the Federal Government sometimes in 2013 on the terms and conditions on which the Government would improve funding for staff welfareand provision of critical infrastructure.



However, the implementation of this bilateral agreement has had certain challenges due to revenue shortages and other reasons.

President Buhari in his determination to revitalize public universities and ensures smooth running of the tertiary education system , has approved the sum of N20 billion for the immediate release for public universities through the revitalization scheme.

These funds will released to the beneficiary universities in line with the established criteria used by the Nigeria University Commission, NUC.



Progress of the implementation will be monitored with a view to resolving emerging issues and keeping the Government's promises to relevant stakeholders.
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