The running of Technical and Vocational Educational Education (TVE) in Nigeria’s tertiary institutions appear to be one of the bold steps taken towards solving the technical manpower needs of the nation and making her learners self-reliant. This lofty aspiration is no doubt novel especially as the country is rated among the developing nations. Howbeit, the philosophy behind the establishment of TVE is compelling and promises “gold-bearing” returns. Yet, recording milestones in this regard is constantly plagued with intense problems, the chief of which is funding. To tackle this pressure point, therefore, Tertiary Education Trust Fund (TETFund) was conceived and established as an intervention agency to break the nation free from the vestiges of moribund edifices for teaching and learning, sorry state of instructional materials and equipment, paucity of research and publications, acute shortage of qualified academic staff among other problems. With these as the identified issues, this paper discusses the establishment and management of TETFund, rationale for its setup, the state of TVE in Nigeria’s tertiary institutions and the challenges of the agency. The study therefore recommends among others the necessity to dutifully collect and faithfully remit the 2 percent Education Tax imposed on the assessable profit of companies registered in Nigeria which is the primal source of funding to TETFund.
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