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Unlike the usual deficits that define the national budgets, the Petroleum Technology Development Fund (PTDF) has recorded an accrued surplus of unused funds for capital expenditures and capacity building programmes totalling N62 billion by 2016. However, the recurrent expenses increased by 137% from N3.85 billion to N9.14 billion between 2012 and 2016.
The Tertiary Education Trust Fund (TETFUND) in the last ten years has benefitted an estimated 1.36 trillion naira from the government for the development and advancement of the educational sector in Nigeria. However, reports from NEITI and other investigations have shown that the fund does not have a comprehensive accounting and operational manual hence, there is an insufficient guide for accounting and operations’ processes.
