FG Orders Federal Universities To Publish Financial Records By May 31

The federal government has instructed all federal higher institutions to disclose their financial records and academic capacity details before May 31, 2025.

Education Minister, Tunji Alausa stated that vice-chancellors, rectors, and provosts must release their annual budget breakdown, covering personnel expenses, overhead costs, and capital expenditures.

This directive was conveyed through a statement signed by Boriowo Folasade, the ministry’s spokesperson.

According to the statement, institutions are also required to provide information on research grants received from “foreign institutions, multilateral organisations, and development partners.”

Additionally, the statement noted that institutions must disclose the funds allocated to them by TETFund.

“The directive further mandates that institutions publish the total value of their endowment fund as recorded at the end of the previous year,” the statement reads.

“This figure, which reflects funds donated or invested for the institution’s long-term financial health, must be updated quarterly to ensure currency and transparency.”

Alausa also instructed institutions to disclose their current student population for both undergraduate and postgraduate programs, aiming to assess enrolment levels and institutional capacity.

The ministry emphasised that this information must be presented in a clear and easily accessible format before the deadline.

“Websites should be structured in a way that allows the public, including parents, students, and stakeholders, to easily locate and understand these data points.

“All federal institutions are expected to comply fully with this directive and ensure that their websites are completely updated,” the statement added.

Alausa warned that institutions failing to meet this requirement would face penalties, as the ministry plans to conduct periodic reviews of institutional websites.

“This policy is part of a broader reform initiative aimed at strengthening public trust in the nation’s tertiary institutions, enhancing performance-based funding, and improving Nigeria’s global education indices,” he stated.