The Petroleum Technology Development Fund has announced the cancellation of its overseas scholarship programmes for Nigerian graduates and undergraduates. This, it said, was part of its new policy direction, adding that it would fundamentally affect the operation and funding of its overseas scholarship scheme and other training programmes under the fund’s management. PTDF, in a statement issued by the Head, External Relations, Mr. Kalu Otisi, on Thursday, said the policy directions “include a partial or outright domestication of the scholarship scheme in Nigeria in line with the Local Content policy of the Nigerian government and the denomination of the scholarship in hard currency, as against the naira due to the volatility of foreign exchange rates.” To give effect to these policy shifts, the fund said it had opened up discussions with officials of foreign universities where Nigerian scholars were regularly sent for their Masters and Ph.D studies under the sponsorship of the PTDF. The discussion, it said, was on the possibility of either setting up branches of the foreign institutions in Nigeria or collaborate with local universities in Nigeria, particularly those whose oil and gas-related departments had been fully upgraded by the fund to become centres of excellence in teaching and research. The Executive Secretary, PTDF, Mr. Femi Ajayi, who held interactive sessions with officials of the Imperial College, London, and the University College, London, as well as Nigerian scholars, said such a partnership would henceforth form the basis for the fund’s future relationship and co-operation with universities providing training and research to its scholars abroad. He reportedly said, “This is because we have institutions in Nigeria which PTDF has over the years been upgrading. So, we want a situation where there will be more cooperation between universities out here and our universities back home. “And we have some faculties that we have developed or upgraded as agencies where some of these short-term and long-term courses can be run. So, we are discussing the various modes of partnership and collaboration towards moving along this line.” PTDF is a Federal Government agency which has the mandate of enhancing the institutional capacities of universities offering oil and gas-related courses.

This makes serious sense. No need to spend billions of dollars sending the children of the political class abroad for masters program while the masses are left out.

divinehand2003:
This makes serious sense. No need to spend billions of dollars sending the children of the political class abroad for masters program while the masses are left out.

All I see is fund siphoning out of this country and weakening our naira too.Good riddance!

That good. It's like with the new administration in Nigeria, some are beginning to think and strategies well.

Seriously? What's ur source

this is good news. seing children of top politicians gain these scholarship is just sickening.