ASUU seek utilization of unspent TETFunds to boost institutions’ development

The Academic Staff Union of Universities (ASUU) has called on the government to deploy the backlog of unspent funds allocated to tertiary education.

The union emphasized that the stagnation of these resources could impede the advancement and overall development of Nigeria’s higher education sector.

This call was made amid a strategic meeting convened by the Tertiary Education Trust Fund (TETFund), which brought together key stakeholders. The one-day engagement was held in Abuja, where discussions centered on optimizing the impact of educational investments.

During the meeting, Mr. Sonny Echono, Executive Secretary of TETFund, stated that the initiative marked a new era for the board, aligning its strategies with stakeholders to enhance educational quality. Echono also highlighted the benefits of the recent increase in the education tax from 2.5 percent to 3 percent, noting that it would enable TETFund to make even greater contributions to infrastructure, academic programs, and overall student accessibility in Nigeria’s tertiary institutions.

“As heads of TETFund beneficiary institutions, you play a pivotal role in actualizing the mandate of the Fund. It is crucial that we engage constructively to set a clear course for the Fund’s direction and operational priorities.

“TETFund’s purpose is to empower our nation’s human capital, addressing the urgent need for capable, skilled professionals across all sectors. Established in response to the deficits in our tertiary education sector, TETFund began as the Education Tax Fund in 1993, transitioning in 2011 to its current form with a commitment to enhancing the quality of Nigeria’s public tertiary institutions through Education Tax contributions.

“The increase last year in the Education Tax from 2.5 percent to 3 percent authorised by President Bola Tinubu represents a significant stride for TETFund. This change reinforces the government’s dedication to strengthening Nigeria’s educational framework.

“We urge all stakeholders to actively engage in building these partnerships. Let us explore innovative ways to connect our institutions with industry leaders, fostering a symbiotic relationship that benefits both our students and the economy,” he added.

Speaking, the President of ASUU, Prof. Emmanuel Osodeke, said university leaders must fight for themselves and not rely on others to negotiate their future.

He warned that the proposed tax changes to TETFund could drastically affect Nigerian universities’ funding, emphasizing the need to ensure these bills don’t pass if we truly care about our education system.