Chidimma Uchegbu, Abuja
The Tertiary Education Trust (Tetfund) has assured that the 2025 budget cycle will create an increase in project developments with the improvement in its allocations.
Arch. Sunny Echono gave the assurance during a strategic interactive engagement with heads of beneficiary institutions recently in Abuja.
According to him, TETFUND received a significant increase in tax collections in 2024.
Echono stated that the increase in tax will no doubt transform into a bumper production next year as it
prepares to enter into the 2025 budget circle.
According to him, the revenue generated from education tax played a very significant role, not only in maintaining but also providing additional infrastructure for tertiary institutions, enhancing academic programmes, and promoting accessibility to students from various backgrounds.
“We have a very significant increase in tax collections in 2024 so far.
“This, no doubt transform into a bumper production in 2025. So, we are grateful to Mr President for this as we prepare to enter the 2025 budget circle with a stronger foundation, the one that allows us to enhance our impact across the country’s tertiary institutions”, he said.
In his remarks, the Chairman, Board of Trustees of Tetfund, Hon. Aminu Bello Masari said though the sole mandate of Tetfund is to provide funding for tertiary education, institutions must also endeavour to fund education in a sustainable way.
“After 21 years, some institutions with due apologise to you and to those out there, who sees Tetfund not only as an intervention agency, but as an agency that has to shoulder all responsibilities in education.
“Where is the revenue being generated? I think it is high time we started to think of how to fund education in a sustainable way”, he said.
The former Governor of Katsina State, however warned that education should not be politicised in other to avoid producing bad products from the system.
“I think politics. especially partisans should be off education, we should start to look at education as no barrier but to promote the level of education in the Nation. It is high time you, the heads come up with suggestions and proposals to the government at the various levels on how to fund education in a sustainable manner”, Hon. Masari added.
Delivering his good will message, the Executive Secretary of National Universities Commission (NUC) Dr Chris Maiyaki, said the responsibility of Tetfund is to advance the Nation’s tertiary institutions who are sole beneficiaries of the intervention fund.
Dr Maiyaki disclosed that 274 government owned and 148 private owned tertiary institutions are being funded by Tetfund.
He lamented that the challenges facing education in Nigeria are numerous and complex, saying, “I believe that with collective wisdom and strategic insight which will be harness from this strategic workshop by the calibre of tertiary leaders gathered here today and the energy that’s in this room, there is a promising opportunity that we will curb this challenges head-on”.
The academic union including the Academic Staff Union of Universities (ASUU), and Academic Staff Union of Polytechnics (ASUP) were present at the engagement.
