![\"ASUU](\"https:\/\/examscholars.com\/blog\/wp-content\/uploads\/2024\/11\/ASUU-logo.jpg\"){kind=logo}
<\/p>\n<\/p>\n
The Academic Staff Union of Universities (ASUU) has cautioned the Federal Government against replacing the Tertiary Education Trust Fund (TETFund) with the Nigerian Education Loan Fund (NELFUND), warning that such a move would cripple public universities and undermine tertiary education in Nigeria.<\/p>\n
ASUU President, Professor Emmanuel Osodeke, made this statement during an interview on Thursday on Channels Television\u2019s Sunrise Daily.<\/p>\n
He described TETFund as the backbone of public university funding for the past three decades and argued that its suffocation would collapse the sector.<\/p>\n
\u201cThe only source of funding is from TETFund, so when you destroy it, you have destroyed public universities,\u201d Osodeke said.<\/p>\n
The ASUU president accused certain members of the ruling class of orchestrating a plot to destroy public universities, claiming it was part of a deliberate strategy to disenfranchise the children of the poor.<\/p>\n
\u201cThey want to destroy public universities and ensure that the children of the poor remain slaves,\u201d he alleged.<\/p>\n
Osodeke also criticized the tax bills introduced by President Bola Tinubu\u2019s administration, saying they were drafted without input from key stakeholders in the education sector, including ASUU, vice-chancellors, and pro chancellors.<\/p>\n
\u201cTETFund is a product of ASUU. You can\u2019t make the tax laws without meeting with ASUU before proposing them to the National Assembly.<\/p>\n
\u201cThe Vice Chancellors were not consulted, and the Pro Chancellors were not consulted. The people sat down somewhere and said over the next five years let\u2019s scrap it without consulting those who initiated this bill that has transformed Nigerian public universities. That\u2019s not how to work in a system. That\u2019s not how to run a country that is democratic,\u201d he said.<\/p>\n
He further explained that TETFund, funded by consolidated revenue from company income tax, has been instrumental in building 90% of the physical infrastructure in Nigerian universities, polytechnics, and colleges of education.<\/p>\n
He argued that merging TETFund with other agencies like NASENI and NITDA, as proposed by the tax bill, would reduce its impact and ultimately scrap it by 2030.<\/p>\n
Osodeke urged the government to explore alternative funding sources for NELFUND, such as allocating 1% or 2% of Value Added Tax (VAT), instead of draining resources from TETFUND.<\/p>\n
He said, \u201cLet that Act initiated in 1993 that has transformed all Nigerian universities; allow it to stay. If you want to drive NELFUND, go and look for ways to fund it. Don\u2019t take from the one that is in existence to fund it.<\/p>\n
\u201cTake 1% or 2% of VAT to fund NELFUND. Don\u2019t take from Peter to pay Peter. Go and look for ways to fund NELFUND.\u201d<\/p>\n
He added, \u201cWhen you go around all Nigerian universities, polytechnics, and colleges of education today, 90% of the physical structures you have there are products of this struggle for TETFUND<\/p>\n
\u201cBut this tax bill says that by 2030, it should be scrapped and merged with NASENI and NITDA and then reduced to 2%.\u201d<\/p>\n
The ASUU president emphasized that dismantling TETFUND to fund NELFUND would be a step backward and a disservice to the progress made in Nigerian tertiary education.<\/p>\n
Source:<\/strong><\/p>\n \u00a0<\/p>\n Score 300 and above with Exam Scholars JAMB CBT Practice Software: Free Download and More<\/a><\/p>\n![\"ASUU](\"https:\/\/examscholars.com\/blog\/wp-content\/uploads\/2023\/11\/WhatsApp-Image-2023-11-03-at-14.30.40.jpeg\")
<\/p>\n