By Peter Adelowo
The Academic Staff Union of Universities Sokoto zone has raised alarm over the proposed Tax Reform Bill 2024, alleging that the bill seeks to shortchanged the prospect and achievement of the tertiary Education Trust Fund in the Country.
Speaking at a news conference, the zonal coordinator, Dr. Abubakar Sabo, criticized provisions in Section 59(3) of the proposed bill, which significantly changed the TETFund’s funding structure.
According to Dr. Sabo, the bill stipulates that only fifty percent of the Development Levy will be allocated to TETFund in 2025 and 2026.
He alleged that the remaining would be distributed to other agencies such as the National Information Technology Development Agency NITDA, the National Agency for Science and Engineering Infrastructure NASENI, and the Nigerian Education Loan Fund NELFUND.
The ASUU zonal Coordinator stressed that by 2030, TETFund will receive no allocation from the Development Levy.
Abubakar Sabo said this will effectively abolishes the Education Tax, redirecting funds to NELFUND at the expense of TETFund’s vital role in advancing higher education,” Dr. Sabo stated.
He highlighted TETFund’s unparalleled contributions to Nigerian public tertiary education, including infrastructural development, postgraduate training, and research capacity enhancement.
ASUU described the bill as a direct threat to the progress achieved in the sector over the past 15 years.
ASUU called on the National Assembly, particularly its leadership and relevant committees, to safeguard TETFund from being eroded under the guise of tax reform.
