The Academic Staff Union of Universities has called on the National Assembly to protect TETFund from being dismantled under the Nigeria Tax Bill 2024 as it reminded lawmakers of their responsibility to ensure accessible and affordable higher education for all Nigerian students.
The body stressed that the plan to diminish TETFund in favour of an unproven loan scheme was “illogical, myopic, and anti-people, especially the middle class and the lower strata of society.”
The Zonal Coordinator for ASUU-Nsukka Zone, Raphael Amokaha, speaking on Thursday in Makurdi, called on the federal and state governments to fulfil their constitutional duty to fund tertiary institutions adequately, not just through interventions like TETFund.
He said the education tax that the government proposed to end by 2030 specifically states that only 50 per cent of the development levy would be made available to TETFUND in 2025 and 2026 while the National Information Technology Development Agency, the National Agency for Science and Engineering Infrastructure and NELFUND would share the remaining percentages.
He said, “This education tax that the government has proposed to end by 2030 is the source of funds for TETFund. Section 59(3) of the Nigeria Tax Bill (NTB) 2024, as proposed, specifically states that only 50 per cent of the Development Levy would be made available to TETFund in 2025 and 2026.
”TETFund will also receive ‘66.7 per cent in 2027, 2028 and 2029 years of assessment’ but zero per cent in the 2030 year of assessment and thereafter.’”
He further warned that by 2030, all proceeds from the Education Tax would be redirected towards NELFUND, an agency primarily concerned with student loans.
He argued that this move would suffocate TETFund, which plays a crucial role in supporting university infrastructure and development.
The union has argued that the scheme, alongside the proposed phasing out of the Tertiary Education Trust Fund (TETFund), will negatively impact public universities and exacerbate existing funding issues.
Source; (Punch)
