THE automatic deduction of 40 percent of Internally Generated Revenue (IGR) from federal universities has been declared cancelled by President Bola Tinubu.
The Minister of Education Tahir Mamman announced the president’s decision today during his speech at the 75th Founder’s Day event of the University of Ibadan (UI).
The Ministry of Finance informed educational institutions around the country in October of its intention to automatically take 40% of their IGR.
The Academic Staff Union of Universities (ASUU) and other stakeholders, in particular, strongly denounced the action, calling it ill-advised and retrogressive.
ASUU clarified that universities were not government revenue-generating entities in a statement that was signed by Prof. Emmanuel Osodeke, the agencies national president.
It also served as a reminder to the government that students’ mandatory fees were intended to cover the cost of the resources needed to ensure proper education.
Osodeke pointed out that the move will only make university education less affordable.
Additionally, the Federal Government was urged to revoke the plan by the Committee of Vice Chancellors of Nigerian Universities in a protest letter. The committee further stated that the government was not entitled to forty percent of the IGR of the universities since it had denied them autonomy.
In a dramatic volte-face today, Tinubu conceded that the policy implementation was ill-timed.
He said: “The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”
Details later …
