The Academic Staff Union of Universities (ASUU) has urged the government to utilize the accumulated unspent funds earmarked for tertiary education.
The president of ASUU, Prof. Emmanuel Osodeke who stated this at a one-day Strategic Interactive Engagement with Heads of Tertiary Education Trust Fund (TETFund) Beneficiary Institutions, emphasised the need for improved funding to address the sector’s challenges.
Osodeke also warned that the continued stagnation of these resources could hinder the growth and development of the sector.
He also warned that the proposed tax changes to TETFund could drastically affect Nigerian universities’ funding, emphasising the need to ensure these bills don’t pass if we truly care about our education system.
According to him, tax reductions may seem beneficial to industries, but they risk crippling higher education funding.
Also speaking during his welcome address, the executive secretary of TETFund, Arch. Sonny Echono, said the strategic engagement marked a new chapter for the board, where it aligns efforts with stakeholders to optimise performance and enhance the quality of Nigeria’s tertiary education.
He said that with the recent increase in education tax from 2.5 percent to 3 percent, TETFund is poised for even greater impact, improving infrastructure, academic programs, and accessibility for all students.
“As heads of TETFund beneficiary institutions, you play a pivotal role in actualizing the mandate of the Fund. It is crucial that we engage constructively to set a clear course for the Fund’s direction and operational priorities,” he said.
“The increase last year in the Education Tax from 2.5 percent to 3 percent authorized by the Commander-in-Chief, President Bola Ahmed Tinubu represents a significant stride for TETFund. This change reinforces the government’s dedication to strengthening Nigeria’s educational framework.
“We urge all stakeholders to actively engage in building these partnerships. Let us explore innovative ways to connect our institutions with industry leaders, fostering a symbiotic relationship that benefits both our students and the economy,” he added.
On his part, Hon. Aminu Bello Masari, the chairman of the board of Trustees of TETFund, called for the removal of politics from the education sector.
He urged universities to start devising means of creating their own funds rather than depending solely on the government.
“Let me start by commending ASUU for creating this intervention agency 21 years ago. And the fund has kept faith with the low establishment rate in our higher institutions. That’s why we have some of the best institutions in the country. After 21 years, some institutions, with no apologies, and some people outside, see that the fund is not just an intervention agency, but an agency that must shield its own responsibilities in education, which I believe is right.
“I think it is high time we start to think, especially you, about how to fund education in a sustainable way. We see intervention. Believe me, after two or three months, I, as chairman, receive requests from institutions, especially those that know me or know someone who knows me,” he said.