10 hours ago
1
The Academic Staff Union of Universities, Akure Zone , has kicked against the proposed eradication of the Tertiary Education Trust Fund which is currently under review by the National Assembly.
The union also condemned the proposal that in the 2024 Nigeria Tax Bill, only 50 per cent of education tax would be allocated to TETFund in 2025 and 2026 while from 2030 upward, TETFund would not be receiving allocation.
The chairman of ASUU Akure Zone, Prof. Adeola Egbedokun, stated this at a press conference, held on the campus of the University of Medical Sciences, Ondo town, Ondo State on Tuesday.
Egbedokun stated that the union was strongly against the proposed diverting of education tax and zero allocation from 2030. He also raised concerns on certain sections which include the illegality of diverting education tax, zero allocation from 2030, replacing TETFund with NELFUND, and loss of infrastructure and academic development, among others.
According to the don, the proposed shift of funding towards student loans may be a strategy to pressure public tertiary education institutions into implementing exorbitant tuition fees and potentially transform them into revenue-generating entities.
He also insisted that the phasing out of TETFund would pose a significant threat to tertiary education in Nigeria.
Egbedokun said, “ASUU is particularly alarmed by section 59(3) of the Nigeria Tax Bill 2024, which proposed that only 50 per cent of the Education Tax (Development Levy) will be allocated to TETFund in 2025 and 2026 and that from 2030 onward, TETFund is set to receive no allocation.
“The proposed shift in funding towards student loans may be a strategy to pressure public tertiary education institutions into implementing exorbitant tuition fees and potentially transforming them into revenue-generating entities.
“The phasing out of TETFund would pose a significant threat to tertiary education in Nigeria as its contribution to the physical infrastructure and capacity building of staff could come to a halt. This could also lead to students becoming chronic debtors, mirroring the financial challenges faced by the nation itself.
“ASUU believes that these changes will severely undermine TETFund which has played a pivotal role in the development of Nigeria’s public tertiary education system for over a decade.”
The union further urged the National Assembly to reject any provision of the proposed Nigeria Tax Bill that could undermine the existence and effectiveness of TETFund.
“ASUU urges the National Assembly to reject any provision of the Nigeria Tax Bill that could undermine the existence and effectiveness of TETFund. The union called on stakeholders in the education sector and the general publics to join forces in safeguarding this critical agency which has played a pivotal role in repositioning Nigerian tertiary education for global competitiveness and transformative development.
“The survival of TETFund is not merely an educational concern, it is a matter of national importance. Any attempt, whether intentional or otherwise, to repeal the TETFund Act 2011 would constitute a profound disservice not only to the education sector but to the nation as a whole,” Egbedokun added.
English (US) ·