BY Gami Tadanyigbe
The Academic Staff Union of Universities (ASUU) has urged the national assembly, particularly the Senate President and the Speaker of the House of Representatives, to take immediate steps to protect Tertiary Education Trust Fund (TETFund) from the proposed Nigeria Tax Bill 2024.
ASUU, in a press statement, signed by its national president, Prof. Emmanuel Osodeke on Friday, raised a strong objection to the Bill, warning that if passed in its current form, the bill could undermine vital educational support.
The Academic Staff Union of Universities (ASUU) has observed with keen interest the ongoing debate on the review of the tax system in the country under a proposed bill tagged, Nigeria Tax Bill, 2024, which is currently before the National Assembly. Arising from the tax bill is the proposed abrogation of the Education Tax.
ASUU noted with serious concern Section 59(3) of the Nigeria Tax Bill (NTB) 2024 which specifically states that only 50% of the Development Levy would be made available to TETFund in 2025 and 2026 while NITDA, NASENL and NELFUND would share the remaining percentages.
TETFund, according to the Union will also receive “66.7% in 2027, 2028 and 2029 years of assessment” but “0% in 2030 year of assessment and thereafter.
“ASUU is alarmed by this dangerous and unpatriotic aspect of the proposed new tax regime to wit: that the Education Tax, called Development Levy, used to bankroll TETFund’s programmes should be ceded to the newly established Nigerian Education Loan Fund (NELFUND).
“The far-reaching consequence of the new tax system is that from 2030, all funds generated from the Development Levy will be passed to NELFUND. ASUU finds this development not only worrisome but also inimical to our national development objective because of the potential danger to the survival of TETFund.
“ASUU has resolved not to stand by and watch the denigration or obliteration of TETfund, which represents a positive testament to our Union’s constructive engagements with Nigerian governments since 1992. It is our considered view that abrogating the TETFund Act 2011, by design or default, will be a great disservice not just to education but to Nigeria as a nation.
“As a result, ASUU is urging the National Assembly, especially the Senate President and the Speaker of the House of Representatives, to do all within their capacity to protect TETFund from being abrogated under the Nigeria Tax Bill 2024,” the statement added.
