President Bola Tinubu has announced the cancellation of the automatic deduction of 40 percent from federal universities’ Internally Generated Revenue (IGR). The Minister of Education, Tahir Mamman, conveyed the president’s announcement during his speech at the 75th Founder’s Day ceremony of the University of Ibadan (UI) on Friday, November 17. In October, the Ministry of Finance notified academic institutions nationwide of its plan to automatically deduct 40 percent from their IGR. This move generated mixed reactions, especially from the Academic Staff Union of Universities (ASUU) and other stakeholders.
ASUU, in a statement signed by its national president, Prof. Emmanuel Osodeke, explained that universities were not revenue-generating agencies. They argued that the obligatory fees paid by students were intended to provide the necessary tools for them to receive a proper education.
The Committee of Vice-Chancellors of Nigerian Universities also wrote a protest letter to the Federal Government, demanding that the government rescind the plan. They emphasized that the government could not demand 40 percent of varsities’ IGR when it had refused to grant them autonomy. To address the concerns raised, the president noted that the policy implementation is ill-timed. He said, “The 40 percent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”
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Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
