The Joint Admissions and Matriculation Board (JAMB) has demonstrated its commitment to financial transparency and accountability, as it revealed a total generated income of ₦22.99 billion for the year 2024, and remittance of over ₦6 billion to the federal government, as contained in the Board’s weekly Bulletin published on its website on the 6th of January. The overall remittance value rises to an astounding ₦9.01 billion when combined with the ₦1,500 reduction in application form costs for thousands of candidates.
From its total generated income, JAMB expended a considerable ₦18.19 billion to assist the conduct of its flagship Unified Tertiary Matriculation Examination (UTME) and other related services. This spending comprised payments to service providers and other critical operational costs. Notably, ₦2.11 billion was spent on staff claims alone. These figures demonstrate the Board’s dedication to upholding high standards in the performance of its mandate while guaranteeing operational effectiveness. Under Prof. Oloyede’s direction, JAMB has gained recognition for its regular remittance to the national treasury and established itself as a benchmark for institutional transparency.
Operating surplus paid to FG has reached ₦20.7 billion.
Over the past eight years, the Board reported that it has contributed more than ₦50 billion to the national treasury, a significant feat that has received widespread praise. The Bureau of Public Service Reforms (BPSR) recognized this accomplishment by giving JAMB a high performance index rating utilizing the Self-Assessment Tool (SAT). The board noted that Prof. Oloyede’s reforms have made JAMB one of Nigeria’s most reputable and responsible government agencies. Retrospective evaluation of JAMB’s financial results under Prof. Oloyede reveals steady expansion.
Moreover, the Board, which has contributed less than ₦50 million to the Federal Government’s coffer between 1978 and 2016, contributed ₦7.8 billion in 2017. In addition to the enormous physical and human development projects being carried out from the Board’s Internal Generated Revenue (IGR), it has paid the Federal Government an operating surplus of ₦20.7b since 2016 till date. In 2016, JAMB’s revenue stood at ₦3.8 billion, with ₦3 billion remitted to the treasury.
₦3.1 billion in was remitted to the govt coffer in 2022.
Generated income skyrocketed to ₦12 billion by 2017, allowing for a ₦7.8 billion remittance. The trend persists with ₦5.2 billion remitted in 2018, ₦3.68 billion in 2019, and ₦3.8 billion in 2020. Remitting ₦3.5 billion in 2021 and ₦3.1 billion in 2022, JAMB demonstrated its financial discipline in spite of the economic burden brought on by the COVID-19 pandemic. The Board remitted ₦2 billion to the Federal Government as its interim surplus for the 2023 fiscal year.
Under Oloyede’s leadership, the board’s internal revenue stood at ₦13.33 billion, ₦11.35 billion, ₦9.74 billion, and ₦12.62 billion, in 2019, 2020, 2021, and 2022 respectively. This steady performance demonstrates the success of reforms and the Board’s dedication to sound financial management. Looking ahead in 2025, JAMB has reaffirmed its dedication to maintaining accountability, equity, and transparency in all aspects of its operations. The Board has also pledged to uphold its fundamental goal of guaranteeing equity and inclusivity for all applicants in the admissions process.
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With a focus on leveraging Technology and innovative approaches, JAMB aims to build on its accomplishments in 2024 and further solidify its standing as a leading public institution in Nigeria. The Board has established a standard for integrity and financial prudence in addition to redefining the requirements for providing public services. Stakeholders and candidates alike may anticipate sustained quality and a dedication to promoting an egalitarian Educational System in Nigeria as the Board prepares for the 2025 exercise.