Tax reform: ASUU urges NASS to reject provisions that undermine TETFund
Tax reform: ASUU urges NASS to reject provisions that undermine TETFund
The Academic Staff Union of Universities (ASUU) has called on the National Assembly to reject any provision of the Nigeria Tax Bill 2024 that undermines Tertiary Education Trust Fund (TETFund)’s effectiveness and existence.
The Voice Media Trust (VMT NEWS) reports that TETFund is a scheme established by the Federal Government in 2011 to disburse, manage, and monitor education tax to government-owned tertiary institutions in Nigeria.
Prof. Adeola Egbedokun, ASUU Coordinator, Akure Zone, made the call on Tuesday at a news conference held at the University of Medical Sciences, Ondo (UNIMED).
According to Egbedokun, TETFund has played a pivotal role in repositioning Nigeria’s tertiary education for global competitiveness and development.
“Stakeholders in the education sector and the general public should join forces in safeguarding TETFund. Its survival is not merely an educational concern but a matter of national importance.
“ASUU firmly resolves not to remain silent as TETFund has faced threats of diminution or elimination.
“TETFund is a monumental achievement of the union’s constructive engagement with successive Nigerian governments since 1992.
“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.
“ASUU, therefore, calls on the National Assembly, particularly the Senate President and the Speaker of the House of Representatives, to use their leadership and influence.
“They should ensure that TETFund remains protected under the Nigeria Tax Bill 2024,” he said.
According to the coordinator, safeguarding TETFund is vital to securing the future of education and fostering sustainable national development.
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“Any attempt at redirecting any portion of the education tax to agencies not recognised under the TETFund Act of 2011, is a violation of law which must not be permitted.
“Prioritising the newly-established Nigerian Education Loan Fund (NELFUND) over TETFund is like sacrificing a proven system for an untested one. It is an unethical and counter-productive approach.
“TETFund’s contribution to infrastructure, research and postgraduate training in public tertiary institutions has also been transformative, hence, its absence will regress the sector.
“Countries like Ghana have modelled their education trust funds after TETFund and other African nations have sought to learn from its operation.
“Instead of dismantling it, Nigeria should focus on enhancing and sustaining its achievements,” he said.
