The amount comprise N3b added to the initial N2b earlier announced for the university, which has commenced operations, while N1b is for staff recruitment, even as applications have been invited for academic staff.
The grant is included in the 2018 budget recently presented to the National Assembly, under the Federal Ministry of Education allocation.
In a statement, yesterday, the Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, said approval for the N5b budget allocation was based on the recommendation of a committee in the Ministry of Education charged with the activation of the university.
He added that the President has also approved the immediate release of N1b to the university to support essential infrastructure works and staff recruitment.
It would be recalled that the Maritime University authorities recently commenced the process of hiring staff with advert placements published in various news platforms.
Under the New Vision for the Niger Delta, which followed the President’s meeting with PANDEF leaders last November, Vice President Yemi Osinbajo was delegated to undertake a tour of the oil producing communities and the issue of the take-off of the Maritime University was one of the major requests tabled before the Federal Government.