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The Federal Government has said it would spend N1.5trn on Nigerian universities in the next five years.
President Goodluck Jonathan said this in Lagos on Friday while delivering a lecture titled: “Industrial Relations, Labour Productivity and National Development” to mark the 71st anniversary of the Lagos Island Club.
Represented by Vice-President Namadi Sambo, Jonathan said, “The Federal Government has accorded education and skills acquisition a prime place in the efforts being made to improve labour productivity as a means of transforming the economy.
“The newly established 14 universities located across the six geo-political zones of our country, the purpose of which will enable more Nigerians have access to education and skills acquisition, will enhance the productivity of Nigeria.
“On the universities, within the next five years, the Federal Government will provide a sum of N1.5tn as a special intervention fund to meet our universities’ needs to transform them into international standard.”
The President also said that the Federal Government had put everything in place to ensure that next year’s elections were credible.
While also speaking at the event, the Lagos State Governor, Mr. Babatunde Fashola, said Nigeria could only develop when the citizens think progressively.
Represented by the deputy governor, Mrs. Orelope Adefulure, he said, “Good- things can only come from progressive minds. I want you to think progressively, act progressively and above all, do things in a progressive manner.”
The Chairman, Island Club, Prince Ademola Dada, said, “We identify with the strenuous efforts of President Goodluck Jonathan to entrench the tenets of democracy in the Nigerian polity.”

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