The Academic Staff Union of Universities (ASUU) has warned President Bola Tinubu against prioritizing International Monetary Fund (IMF)-driven policies over the country’s educational needs. The union cautioned that these policies could harm Nigeria’s educational system if implemented.
Concerns Over Proposed Public Benefit and Taxation Bill
In a statement released by ASUU’s Ibadan zone, the union expressed alarm over the proposed abolition of the Tertiary Education Trust Fund (TETFund) and its replacement with the Nigeria Education Loan Fund (NELFUND) as outlined in the 2024 Public Benefit and Taxation Bill (PBTB). The Ibadan zone comprises institutions such as the University of Ibadan, University of Ilorin, Ladoke Akintola University of Technology, Osun State University, Kwara State University, and Emmanuel Alayande University of Education.
The Zonal Coordinator, Professor Oyegoke Oyebamiji, explained the dangers of such a move, describing it as a significant threat to Nigeria’s tertiary education system.
The Role of TETFund in Education Development
According to Professor Oyebamiji, TETFund, a brainchild of ASUU, has played a pivotal role in transforming the country’s educational landscape. He noted that the initiative has been instrumental in Improving infrastructural development in tertiary institutions, facilitating capacity-building programs for academic staff, promoting cutting-edge research, supporting seminars, workshops, and conferences locally and internationally, equipping scientific and engineering laboratories, enhancing library resources by providing state-of-the-art e-libraries and restocking obsolete collections.
He argued that replacing TETFund with NELFUND would be detrimental, likening it to “cutting one’s nose to spite one’s face.”
Specific Concerns About Funding Allocation
ASUU expressed serious concerns over Section 59(3) of the proposed Nigeria Tax Bill (NTB) 2024. The bill proposes a significant reduction in TETFund allocations. It states that only 50% of the Development Levy would go to TETFund in 2025 and 2026, with the remaining shared among NITDA, NASENI, and NELFUND. Also, allocations to TETFund would drop further to “66⅔% in 2027, 2028, and 2029,” and eventually reach “0% by 2030.”
This funding model, according to ASUU will significantly undermine the sustainability of TETFund, which has been instrumental in bridging gaps in tertiary education funding.
ASUU Criticizes Low Budgetary Allocation to Education
ASUU went on to criticize the Federal Government for allocating only 7% of the national budget to education, falling far below the 15% promised during the campaign and the 20% benchmark recommended by UNESCO. The union accused the government of attempting to commercialize public education, a move they strongly opposed.
Call for Action
ASUU urged the National Assembly and the Federal Government to abandon the proposed changes and focus on strengthening TETFund. The union emphasized the need for policies that prioritize education as a public good, ensuring its accessibility and quality for all Nigerians.
“ASUU urges the National Assembly and the Federal Government to reconsider this proposal and instead work to strengthen TETFund and ensure its continued relevance in supporting tertiary education in Nigeria,” Professor Oyebamiji concluded.
Bottom Line
ASUU’s warning explains the important role TETFund plays in Nigeria’s educational system and the potential consequences of its abolition. The union’s concerns highlight the need for sustainable education policies that prioritize long-term national development over short-term fiscal adjustments. The federal government is therefore enjoined to reconsider its reform policies as they relate to education and make considerable adjustments.
