ASUU Urges National Assembly to Safeguard TETFund from Abolition in the Nigeria Tax Bill 2024

The Academic Staff Union of Universities (ASUU) has called on the National Assembly to protect the Tertiary Education Trust Fund (TETFund) from being eliminated under the proposed Nigeria Tax Bill 2024. The union has raised significant concerns that the planned removal of education tax, which supports TETFund, could have detrimental effects on the country’s public universities and their developmental progress.

TETFund, established in 2011, has played a pivotal role in improving the infrastructure, research, and academic staff development within Nigerian universities. Since its creation, TETFund has been the main source of funding for capital projects, staff training, and postgraduate programs across public higher institutions in Nigeria. The removal of TETFund would drastically limit the capacity of universities to enhance the quality of education they offer, which could ultimately affect their global competitiveness.

ASUU is particularly concerned about the government’s move to shift the funds currently channeled through TETFund to a new agency, the Nigerian Education Loan Fund (NELFUND). The union believes that this shift would lead to a drastic reduction in funding allocations for universities. According to the union, the Nigeria Tax Bill 2024 could see the TETFund’s allocation shrink significantly by 2030, severely undermining the support provided to public universities.

The union also warned that redirecting these funds could lead to significant challenges in the execution of essential academic and infrastructural projects. These projects, which have been supported by TETFund, are critical for the growth and development of tertiary institutions. Without the necessary funding, many of these universities may struggle to maintain their facilities and deliver quality education, making it difficult to meet the demands of a growing student population.

ASUU emphasized that the current structure of TETFund has been integral in ensuring the effective delivery of higher education in Nigeria. It has funded various research and infrastructural initiatives that have contributed to raising the standard of education in public universities. The union has urged the National Assembly to prioritize the preservation of TETFund and to avoid policies that would jeopardize its continued operation.

The union concluded by reiterating that the Nigerian government should recognize the importance of TETFund in advancing the country’s educational system. If the government is committed to improving the quality of education, it must ensure that TETFund is protected and its funding mechanisms are not disrupted. ASUU’s appeal underscores the union’s ongoing commitment to the growth and sustainability of the country’s educational institutions and the welfare of their academic staff.