The Academic Staff Union of Universities (ASUU) has raised concerns over the neglect of the education sector in Nigeria, highlighting the country’s lowest education budgets compared to its West African counterparts.
Speaking at a one-day workshop organized by the Tertiary Education Trust Fund (TETFund) in Abuja, ASUU President, Prof. Emmanuel Osodeke, emphasized the urgent need for an upward review of education tax to 10 percent. He asserted that such an increase would significantly boost TETFund funding from the current N600 billion annually to N3 trillion, thus addressing critical funding gaps in the sector.
Osodeke pointed out that while West African countries allocate between 15 percent and 32 percent of their budgets to education, Nigeria falls short with a mere 4.5 to 7 percent allocation, further exacerbated by inadequate releases. He commended states like Enugu, Abia, and Oyo for earmarking over 20 percent of their budgets to the education sector, underscoring the importance of prioritizing education for national development.
Expressing disappointment with the utilization of TETFund allocations by some universities’ vice chancellors, Osodeke urged for greater stakeholder involvement in decision-making processes. He emphasized the need for VCs to adhere to agreements of calling stakeholder meetings before fund utilization, stressing that non-compliance should result in sanctions to ensure accountability and transparency in fund management.
In response, the Executive Secretary of TETFund, Sonny Echono, emphasized the importance of aligning funding with strategic objectives to maximize impact and benefit to the target group. He highlighted the introduction of new programs, such as the Career Services Centre, aimed at enhancing students’ employability and career development.
Echono reiterated TETFund’s commitment to constantly reviewing its operations and interventions to ensure they align with the intended goals. He emphasized the significance of career services centers in providing students with valuable information and linkages to the job market, thereby enhancing their career prospects and contributing to national development.
