The Academic Staff Union of Universities (ASUU) has urged the National Assembly to reject any provision in the Nigeria Tax Bill 2024 that could undermine the existence and effectiveness of the Tertiary Education Trust Fund (TETFund).
Speaking at a press conference on Tuesday at the University of Medical Sciences, Ondo, the ASUU Coordinator for the Akure Zone, Prof. Adeola Egbedokun, emphasized the critical role TETFund plays in advancing Nigeria’s tertiary education system.
Importance of TETFund to Education and National Development
Prof. Egbedokun described TETFund as essential for repositioning Nigeria’s tertiary education to achieve global competitiveness and foster national development. He warned that any disruption to the fund would jeopardize not only higher education but also the future of the country.
“TETFund helps to reposition Nigeria’s tertiary education for global competitiveness and development. Its survival is not merely an educational concern but a matter of national importance,” he said.
He called on stakeholders in the education sector and the public to unite in defending the fund, stating, “ASUU firmly resolves not to remain silent as TETFund faces threats of diminution or elimination.”
Historical Significance of TETFund
Egbedokun highlighted TETFund as a product of ASUU’s constructive engagement with successive Nigerian governments since 1992. He described any attempt to repeal the TETFund Act 2011 as a “profound disservice” to both the education sector and the nation.
“TETFund is a monumental achievement. Any attempt, whether intentional or otherwise, to repeal the TETFund Act 2011 would harm the education sector and the entire country,” he stressed.
What is TETFund?
TETFund, established by the Federal Government in 2011, is tasked with disbursing, managing, and monitoring education tax funds allocated to government-owned tertiary institutions in Nigeria.
Bottom Line:
ASUU by urging the National Assembly to reject any tax bill that threatens the TETFund reiterated its commitment to safeguarding the TETFund and by implications the future of education and the nation. The union has implored lawmakers to carefully consider the implications of the proposed tax reforms on Nigeria’s education sector. This call comes amid growing concerns about the potential impact of the Nigeria Tax Bill 2024 on key educational initiatives and funding mechanisms.
