ASUU Calls for Utilization of Backlog of Unspent Tertiary Education Funds

The Academic Staff Union of Universities (ASUU) has called for the effective utilization of unspent funds allocated to tertiary education in Nigeria. ASUU raised concerns that the ongoing stagnation of these resources could hinder the growth and development of the country’s tertiary institutions.

This appeal followed a meeting between the Tertiary Education Trust Fund (TETFund) and key stakeholders, including the heads of beneficiary institutions.

The Executive Secretary of TETFund, Mr. Sonny Echono, during the one-day strategic engagement held in Abuja, emphasized that the initiative marked a new phase for the board.

He highlighted that the engagement was intended to align efforts with stakeholders to optimize performance and improve the quality of Nigeria’s tertiary education system.

He explained, “With the recent increase in the education tax from 2.5 percent to 3 percent, TETFund is poised for even greater impact, improving infrastructure, academic programs, and accessibility for all students.”

At the meeting, the Executive Secretary of TETFund, Mr. Sonny Echono, emphasized that the heads of beneficiary institutions play a critical role in realizing the Fund’s mandate. He stressed the importance of constructive engagement to set a clear direction and operational priorities for the Fund.

Echono further highlighted TETFund’s goal of empowering Nigeria’s human capital, addressing the pressing need for skilled professionals in all sectors. He noted that TETFund was established in response to the deficiencies in the tertiary education sector, starting as the Education Tax Fund in 1993 and transitioning to its current form in 2011.

The Fund is committed to enhancing the quality of Nigeria’s public tertiary institutions through contributions from the Education Tax.

The increase in the Education Tax rate from 2.5% to 3% in 2023, authorized by President Bola Tinubu, was described by Echono as a significant step forward for TETFund, underscoring the government’s dedication to strengthening Nigeria’s educational framework.

He urged stakeholders to engage actively in building partnerships and explore innovative ways to connect educational institutions with industry leaders, fostering mutually beneficial relationships that will support both students and the economy.

Prof. Emmanuel Osodeke, the President of ASUU, also spoke at the event, stressing that university leaders must take charge of their own futures rather than rely on others to negotiate on their behalf.

He raised concerns that the proposed tax changes to TETFund could severely affect funding for Nigerian universities. He emphasized the importance of ensuring that these changes do not pass, urging that the future of the country’s education system depends on safeguarding such funding measures.