The Academic Staff Union of Universities (ASUU) has called for the release of accumulated unspent funds allocated for tertiary education to be utilised for the growth and development of the country’s universities.
The union at a one-day strategic engagement organised by the Tertiary Education Trust Fund (TETFund), in Abuja on Monday, warned that leaving the resources unused could impede the growth and development of universities in Nigeria.
At the event, Sonny Echono, executive secretary, TETFUND, said the strategic engagement marked a new chapter for the board, aligning with its efforts in engaging stakeholders to optimise performance and enhance the quality of Nigeria’s tertiary education.
He disclosed that with the recent increase in education tax from 2.5 percent to 3 percent, the fund was able to hit a record high in education tax collection in 2024.
Echono emphasised TETFund’s potential for greater contributions to infrastructure, academic programmes, and access to quality education across Nigeria.
“As heads of TETFund beneficiary institutions, you play a pivotal role in actualising the mandate of the Fund. We must engage constructively to set a clear course for the Fund’s direction and operational priorities,” he said.
“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.
He urged all stakeholders to actively engage in building partnerships and explore innovative ways to connect tertiary institutions with industry leaders and foster a symbiotic relationship that benefits both students and the economy.
Emmanuel Osodeke, ASUU president, noted that without proper utilisation of funds, Nigerian universities would struggle to make meaningful progress.
He argued that poor funding was the cause of Nigeria’s educational crisis, and criticised the government for failing to prioritise education, citing the country’s abysmal budgetary allocations to universities compared to other West African countries.
“We surveyed budget allocations to universities in West Africa. The least country gives 15 percent of their budget to education but Nigeria gives about 8 percent. We don’t prioritise education in Nigeria,” he remarked.
Aminu Bello Masari, chairman of the board of TETFund, urged universities to devise means of generating funds rather than depending solely on the government.
“Let me start by commending ASUU for creating this intervention agency 21 years ago. And the fund has kept faith with the low establishment rate in our higher institutions. That’s why we have some of the best institutions in the country. After 21 years, some institutions, with no apologies, and some people outside, see that the fund is not just an intervention agency, but an agency that must shield its responsibilities in education, which I believe is right.
“I think it is high time we started thinking about how to fund education sustainably. No country can progress more than its level of education. We see intervention. Believe me, after three or three months, I, as chairman, receive requests from institutions, especially those that know me or know someone who knows me.”
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