Universities Must Reveal Financial Records, Says Education Minister

The Federal Government has mandated that all federal higher institutions publicly disclose their financial and academic information by May 31, 2025. This directive, announced by Minister of Education Tunji Alausa, requires vice-chancellors, rectors, and provosts to publish annual budgets detailing personnel costs, overheads, and capital expenditures. Additionally, institutions must report research grants received from foreign entities, multilateral organizations, and development partners.

This move aligns with previous efforts to enhance financial transparency in Nigerian universities. In September 2024, the government exempted third-party research grant funds from the Treasury Single Account (TSA), granting universities greater financial autonomy to foster innovation. However, a March 2025 report by the Athena Centre for Policy and Leadership revealed that financial secrecy persists, with none of the surveyed 64 universities publicly sharing financial records. The report emphasized that this opacity hampers access to global research funding and damages international credibility.

By enforcing public disclosure of financial data, the government aims to promote accountability, attract international partnerships, and bolster Nigeria’s position in the global research community.