The Academic Staff Union of Universities (ASUU) has called for the immediate utilization of the backlog of unspent funds allocated to Nigeria’s tertiary education sector. ASUU cautioned that the continued stagnation of these funds could stifle the growth and development of the nation’s universities and other higher institutions.
The call was made during a meeting in Abuja, where Mr. Sonny Echono, the Executive Secretary of TETFund, addressed stakeholders. Echono framed the meeting as a significant step in aligning the efforts of TETFund with various partners to optimize the fund’s impact and improve the quality of Nigeria’s tertiary education system.
He highlighted the recent increase in the education tax from 2.5% to 3%, noting that the additional resources would enable TETFund to make a more substantial impact, particularly in enhancing infrastructure, academic programs, and student accessibility across the country.
“As heads of TETFund beneficiary institutions, you play a pivotal role in helping us achieve the fund’s mandate,” Echono told the gathering. “It is essential that we work together constructively to chart a clear course for TETFund’s direction and operational priorities.”
Echono reminded the stakeholders of TETFund’s founding purpose: to address the deficits in Nigeria’s tertiary education system. Established as the Education Tax Fund in 1993 and transitioning to TETFund in 2011, the organization has been focused on enhancing the quality of public tertiary institutions through contributions from the Education Tax.
He also emphasized that the recent increase in the education tax, authorized by President Bola Tinubu, marked a significant milestone for TETFund and reflected the government’s commitment to improving the country’s educational framework. He urged all stakeholders to engage more actively in building partnerships with industry leaders, which would not only benefit students but also foster broader economic growth.
However, ASUU President Emmanuel Osodeke raised concerns about proposed tax changes to TETFund, warning that they could drastically impact funding for Nigeria’s universities. Osodeke stressed the importance of university leaders taking a proactive stance in negotiating the future of their institutions and cautioned that the proposed changes could further harm the education system if passed. He called for stakeholders to ensure these bills do not proceed, emphasizing that Nigeria’s education system must be protected for the sake of the country’s future.
