FG orders higher institutions to publish financial data by May 31

Monday, April 7, 2025 - The federal government has directed the management of all federal higher institutions in Nigeria to publish detailed financial and academic data on their websites by May 31, 2025. This was announced by the Minister of Education, Tunji Alausa, in a statement signed by Boriowo Folasade, the spokesperson for the ministry.

According to the directive, vice-chancellors, rectors, and provosts must disclose their institutions' annual budgetary allocation, including personnel costs, overhead costs, and capital expenditure. In addition, they are required to publish data on research grants received from foreign institutions, multilateral organisations, and development partners.

“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.”

The minister also instructed the institutions to disclose their current student populations for both undergraduate and postgraduate programmes. This data is intended to help determine each institution’s enrolment size and academic capacity.

The ministry emphasised that the information must be presented in a clear, accessible, and user-friendly format. “Websites should be structured in a way that allows the public, including parents, students, and stakeholders, to easily locate and understand these data points,” it added.

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

Alausa warned that the ministry would conduct periodic reviews of institutional websites and impose penalties on non-compliant institutions. “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 said.