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<\/p>\nThe 2024 Nigeria Tax Bill, which is presently being reviewed by the National Assembly, calls for a reduction in funding for the Tertiary Education Trust Fund. The Academic Staff Union of Universities, Akure Zone, has protested this proposal.<\/p>\n
ASUU expressed concern about the bill\u2019s provisions that would cut the TETFund\u2019s portion of the education tax to 50% in 2025 and 2026, with intentions to do away with all allocations starting in 2030.<\/p>\n
The union characterized the action as a departure from the fund\u2019s vital role in infrastructure and capacity development and as a threat to Nigeria\u2019s tertiary education system.<\/p>\n
The union characterized the action as a departure from the fund\u2019s vital role in infrastructure and capacity development and as a threat to Nigeria\u2019s tertiary education system.<\/p>\n
Prof. Adeola Egbedokun, the chairman of ASUU Akure Zone, condemned the proposed reforms as harmful to education and national development during a press conference held Tuesday at the University of Medical Sciences, Ondo.<\/p>\n
\u201cSection 59(3) of the Nigeria Tax Bill 2024, which proposed that only 50% of the Education Tax (Development Levy) will be allocated to TETFund in 2025 and 2026 and that TETFund is set to receive no allocation from 2030 onward, is particularly concerning to ASUU,\u201d Egbedokun said.<\/p>\n
He cautioned that there would be disastrous repercussions from shifting the education tax and closing the TETFund.<\/p>\n
\u201cThe suggested change in funding to student loans could be a tactic to coerce public higher education institutions into charging outrageous tuition and possibly turning them into businesses that generate income,\u201d he said.<\/p>\n
Egbedokun emphasized that removing the TETFund would put a stop to efforts to build capacity and enhance facilities in Nigeria\u2019s higher education institutions, putting students at risk of financial difficulty.<\/p>\n
\u201cThis may also result in students becoming long-term debtors, reflecting the country\u2019s financial difficulties,\u201d he continued.<\/p>\n
The union called the proposed modifications a disservice to the country and the education sector, underscoring the crucial role the TETFund plays in repositioning Nigeria\u2019s public tertiary education system for global competitiveness.<\/p>\n
According to Egbedokun, \u201cASUU feels that these changes will seriously jeopardize TETFund, which has been essential to the growth of Nigeria\u2019s public tertiary education system for more than ten years.\u201d<\/p>\n
The union urged the National Assembly to reject any clauses in the bill that might compromise the viability and efficacy of the TETFund.<\/p>\n
\u201cAny attempt, whether intentional or not, to repeal the TETFund Act 2011 would constitute a profound disservice not only to the education sector but to the nation as a whole,\u201d ASUU called on the public and education sector stakeholders to unite in support of the TETFund, emphasizing its contributions to academic development and infrastructure in Nigeria\u2019s tertiary institutions. \u201cThe survival of TETFund is not merely an educational concern; it is a matter of national importance,\u201d he added.<\/p>\n
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