The Academic Staff Union of Universities (ASUU), Ibadan Zone, has called on President Bola Tinubu to safeguard Nigeria’s education sector from the adverse effects of proposed International Monetary Fund (IMF) policies.
At a press conference held yesterday, representatives from institutions such as the University of Ibadan and the University of Ilorin expressed concerns over the proposed replacement of the Tertiary Education Trust Fund (TETFund) with the National Education and Learning Fund (NELFUND).
This change, outlined in the 2024 Public Benefit and Taxation Bill (PBTB), threatens to destabilize public education funding in Nigeria.
The Role of TETFund in Nigeria’s Educational Growth
Speaking at the event, Zonal Coordinator Professor Oyegoke Oyebamiji highlighted TETFund’s critical contributions to Nigeria’s tertiary education system.
“TETFund has significantly boosted academic excellence by funding infrastructure, research, and learning resources in universities,” he stated.
Professor Oyebamiji warned that replacing TETFund with NELFUND would harm the educational system, describing it as “a regressive and detrimental move.”
Funding Cuts and Potential Impacts
ASUU raised concerns about the Nigeria Tax Bill (NTB) 2024, which allocates only 50% of the Education Tax Development Levy to TETFund for 2025 and 2026.
The remaining funds, earmarked for unrelated agencies, undermine TETFund’s mission.
With projections indicating a total withdrawal of TETFund support by 2030, ASUU fears devastating consequences for public universities, including halted projects, reduced research funding, and increased financial burdens on students and parents.
ASUU’s Recommendations
The union criticized the federal government’s allocation of just 7% of the national budget to education, far below UNESCO’s recommended 20%.
They urged the government and the National Assembly to prioritize strengthening TETFund rather than dismantling it.
While Ghana has adopted a similar model with the establishment of the Ghana Education Trust Fund (GETFund), Nigeria risks losing over 30 years of progress in public education.
ASUU appealed to the government to abandon plans to replace TETFund, emphasizing its importance in maintaining university autonomy and ensuring quality education.
Stakeholders at the conference, including Prof. Ayoola Akinwole of the University of Ibadan and Dr. Alex Akanmu of the University of Ilorin, echoed the call for urgent intervention to safeguard the future of Nigeria’s education system.
What’s your take on the proposed TETFund replacement? Share your thoughts in the comments!
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