The Academic Staff Union of Universities, ASUU, in Yola Zone says the provision of the Nigeria Tax Bill 2024 which will steadily reduce funding to the Tertiary Education Trust Fund, TETFund, till the Fund will receive no allocation at all by the year 2030 will cripple tertiary education.
The Yola Zone of ASUU which comprises universities in the states of Adamawa, Taraba, Borno and Yobe, said Wednesday that the tax bill the way it is designed would surely kill tertiary education.
Addressing the press at the Modibbo Adama University Yola, the Coordinator, Daniel Mamman said it is unacceptable that the proposed controversial Tax Bill 2024 seeks to dismantle TETFund by allocating only 50 percent of the development levy to it from 2025 to 2026, with the remaining half diverted to the National Information Technology Development Agency, NITDA, National Agency for Science and Engineering Infrastructure, NASENI and NELFUND, Nigerian Education Loans Fund.
“Replacing TETFund’s vital role with NELFUND such that by the year 2030 and beyond, TETFund will receive zero allocation from the development levy is an ill-conceived and unjustifiable move that will cripple public tertiary education,” the ASUU Yola Zone leader asserted.
He said TETFund has done so much to put infrastructure in universities and other tertiary institutions of learning as well as upgrade the human resources in such institutions that depriving it of funds will return such institutions to the bad state that they were in before the coming of TETFund.
“Redirecting funds meant for TETFund to other agencies contradicts the TETFund Act 2011 and a gross mis-allocation of resources,” he added.
The ASUU Yola Zonal leadership urged the National Assembly and all other stakeholders to oppose the bill.
“We must stand united to protect TETFund and ensure that our universities can continue to serve as beacons of knowledge and innovation,” the ASUU Yola Zonal coordinator said.