The Federal Executive Council has approved the establishment of 36 new private universities across the country.

Briefing journalists after the special meeting presided over by Vice President Yemi Osinbajo, the Minister of Education Adamu Adamu, said with this approval, there are now 72 private universities in the country.

Adamu stated that the approval was given considering the importance of education in bolstering the economic fortunes of the country.

On his part, the Minister of Labour and Employment, Chris Ngige, said the Council also approved the Universal Implementation of the Employee Compensation Act, 2010.