Prior to the inauguration of the PTDF Interim Management Committee in 2000, activities of the Fund were being run by a desk in the Department of Petroleum Resources (DPR). Under that arrangement, the Endowment Programme in the following six Federal Universities was practically dormant.

• Ahmadu Bello University, Zaria                                         Chemical Engineering
  
• University of Ibadan                                                             Petroleum Engineering         
• University of Maiduguri                                                       Geology          
• Usmanu Danfodiyo University, Sokoto                             Pure and Applied Chemistry
  
• University of Nigeria, Nsukka                                             Geology
• University of Port Harcourt                                                 Gas Engineering      
  

Initially, each of the six universities was endowed with the sum of N10,000,000.00 which was reviewed to N60,000,000.00 per school. 

Aims and Objectives of the Fund

• The furtherance of research and training on how to succesfully exploit Nigeria's enormous oil and gas resources to the fullest advantage
• To encourage large scale development of interdiscliplany teaching and reasearch programmes
• To provide educational opportunities for undergradute and postgraduate creativity innovation
• Development of indeginous qualified manpwer with the right skills to exploit and manage the pertoleum industy
• To undertake research in those areas that would facilitate the exploration and exploitation of Nigeria's mineral resources
• To serve as an interface between the instututions and the various stakeholders.