Section 7: Management and administration of the Fund.

(1) The Board of Trustees shall administer the tax imposed by this Act and disburse the amount in the Fund to Federal and State tertiary educational institutions specifically for the provision or maintenance of-
(a) essential physical infrastructure for teaching and learning;
(b) instructional material and equipment;
(c) research and publication;
(d) academic staff training and development; and
(e) any other need which, in the opinion of the Board of Trustees, is critical and essential for the improvement of quality and maintenance of standards in the higher educational institutions.
(2) The Board of Trustees shall administer, manage and disburse the tax imposed by this Act on the basis of-
(a) funding of all public tertiary educational institutions
(b) equality among the 6 geo-political zones of the Federation in the case of special intervention; and
(c) equality among the States of the Federation in the case of regular intervention.
(3) The distribution of funds shall be in the ratio of 2: 1: 1 as between Universities, Polytechnics and Colleges of Education.
(4) The Board of Trustees shall have power to give due consideration to the peculiarities of each geo-political zone in the disbursement and management of the tax imposed by this Act between the various levels of tertiary education.
(5) The Minister shall, on the recommendation of the Board of Trustees and subject to approval by the President, make guidelines for disbursement of funds under this Act.