PTDFThe Petroleum Technology Development Fund (PTDF) has dismissed reports that it was unable to meet its financial obligation to post-graduate students in some foreign universities under its scholarship scheme.

Addressing newsmen in Abuja recently, Executive Secretary of the Fund, Dr. Oluwole Oluleye, admitted that PTDF had its financial challenges like any other government agency, but expressed optimism that such challenges would be over soon, based on the assurance by the Accountant-General of the Federation.

He said: “PTDF as an agency of government does have some financial challenges. This is not unusual as other public agencies and private organisations sometimes experience glitches in the processing of funds. The good news is that the relevant authority responsible for our funding is on top of the situation. We therefore expect that within a very short time all outstanding financial issues will be resolved.”

He explained that though he met a precarious situation on his assumption of duty in May, the situation had greatly improved.

“Today, as I speak to you, the problems with the students have virtually been resolved and no scholar, I repeat no PTDF scholar has been sent back to Nigeria. I need to emphasise this point in order to clear the air on some recent publications alleging that PTDF had temporarily suspended funding of scholarships for students under its responsibility.
“This is far from the truth as we have managed to keep the students in school. Our students should not be distracted by the publication.”

Oluleye revealed that PTDF had 500 students under its scholarship scheme in the United Kingdom, 160 in China, and 120 in Malaysia.


Information from This Day was used in this report.