ASUU condemns proposed TETFund allocation cut
ASUU condemns proposed TETFund allocation cut
The Academic Staff Union of Universities, Akure Zone, has kicked against the proposed reduction of allocations to the Tertiary Education Trust Fund as outlined in the 2024 Nigeria Tax Bill currently under review by the National Assembly.
ASUU raised alarm over provisions in the bill that would reduce TETFund’s share of the education tax to 50% in 2025 and 2026, with plans to completely eliminate allocations from 2030 onward.
The union described the move as a threat to Nigeria’s tertiary education system and a deviation from the fund’s critical role in infrastructure and capacity development.
Speaking during a press conference at the University of Medical Sciences, Ondo, on Tuesday, ASUU Akure Zone Chairman, Prof. Adeola Egbedokun, denounced the proposed changes as detrimental to education and national development.
“ASUU is particularly alarmed by Section 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 from 2030 onward, TETFund is set to receive no allocation,” Egbedokun stated.
He warned that diverting education tax and phasing out TETFund would have dire consequences.
“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,” he said.
Egbedokun stressed that eliminating TETFund would halt infrastructure development and capacity-building efforts in Nigeria’s tertiary institutions, leaving students vulnerable to financial hardship.
“This could also lead to students becoming chronic debtors, mirroring the financial challenges faced by the nation itself,” he added.
The union emphasised TETFund’s pivotal role in repositioning Nigeria’s public tertiary education system for global competitiveness, describing the proposed changes as a disservice to the education sector and the nation.
Read Also: Pope Francis Bruises Arm In Fall At Vatican
“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,” Egbedokun said.
The union called on the National Assembly to reject any provisions of the bill that would undermine TETFund’s existence and effectiveness.
“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,” he added.
ASUU urged stakeholders in the education sector and the general public to rally in defence of TETFund, highlighting its contributions to infrastructure and academic development in Nigeria’s tertiary institutions.
