Explore why stakeholders are opposing the Nigeria Tax Reform Bill 2024 provisions that threaten to phase out TETFund, a critical lifeline for public tertiary institutions. The proposed Nigeria Tax Reform Bills 2024 are currently under review by the National Assembly, sparking debates about their potential impact on tertiary education funding. These bills include: Their primary aim is to consolidate taxation frameworks and enhance revenue collection systems. However, Part X of the Nigeria Tax Bill 2024 has raised concerns among stakeholders, particularly regarding its treatment of the Development Levy, which is funded by taxes on corporate profits. This levy directly supports various educational and developmental agencies, including the Tertiary Education Trust Fund (TETFund). How TETFund and Other Institutions Are Affected Under the proposed NTB 2024, the Development Levy will be distributed among four institutions: The distribution structure for the levy is as follows: This phased removal of TETFund’s funding has drawn widespread criticism from lecturers, parents, and education advocates, who argue that it threatens the future of public tertiary education in Nigeria. Concerns from Stakeholders Parents’ Perspective The National Parent Teacher Association of Nigeria (NAPTAN), represented by its National President, Alhaji Haruna Danjuma, warns that eliminating TETFund will lead to a spike in tuition fees at public universities. Institutions will struggle to fund capital projects and may shift the burden onto students and parents through increased charges. “If there is no TETFund, institutions will rely on internally generated revenue, ultimately taxing students and parents,” Danjuma cautioned. ASUU’s Standpoint The Academic Staff Union of Universities (ASUU) strongly opposes the proposal to phase out TETFund. According to ASUU National President, Prof. Emmanuel Osodeke: “Without TETFund, many public institutions would collapse due to a lack of basic facilities. We urge the government to reconsider this plan,” Prof. Osodeke stated. Adverse Effects Highlighted by ASUU Lagos Zonal Coordinator Prof. Adelaja Odukoya emphasized that replacing TETFund with NELFund promotes a culture of student debt, similar to systems in countries like the United States. He argued that this model could: “TETFund directly improves institutions and communities by raising the quality of education. Its elimination would undermine these efforts,” Adelaja noted. Why TETFund Must Be Preserved TETFund has played a vital role in sustaining public tertiary institutions in Nigeria. The majority of modern infrastructure and facilities on campuses have been funded through TETFund allocations. Stakeholders argue that its removal will: Call to Action Stakeholders, including parents, lecturers, and education advocates, are urging the federal government to reconsider the NTB 2024 provisions that phase out TETFund. Preserving TETFund is critical to maintaining equitable access to quality education and ensuring the sustainability of public tertiary institutions in Nigeria. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
Learn how NELFUND is transforming education with interest-free loans. Over N23 billion has been disbursed to Nigerian students in universities across the country. NELFUND Encourages Nigerian Students to Apply for Education Loans The Managing Director and CEO of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has called on students in higher institutions across Nigeria to take advantage of the organization’s loan scheme. He reassured students that the loan application process is entirely transparent and free from any undue interference. Speaking at a press briefing in Lagos, Sawyerr emphasized NELFUND’s commitment to fairness and equity in disbursing loans. According to him, a total of N23 billion has already been distributed to students, with N18 billion allocated for tuition fees and N5 billion for upkeep. The program has so far benefitted over 326,000 applicants across 228 universities. To ensure inclusivity, the loan application process has been digitized and made available online, eliminating biases. “You don’t need connections to access the loan,” Sawyerr stated, highlighting the government’s dedication to making education accessible to all Nigerians, regardless of financial circumstances. Promoting Awareness Across Nigeria While the loans have been more popular in the northern regions of the country, NELFUND is actively working to raise awareness nationwide. Sawyerr explained that skepticism and cultural factors have contributed to lower participation in certain areas, particularly in the South. “What we’re doing is ensuring that everyone understands the opportunities available and can make informed decisions,” Sawyerr noted. He added that recent awareness campaigns are already driving increased loan applications from previously hesitant regions. Interest-Free Loans for Education One of the standout features of the NELFUND loan program is that it is interest-free, reflecting the government’s commitment to ensuring no Nigerian is deprived of education due to financial constraints. “Our objective is to provide equal opportunities,” Sawyerr affirmed. “We aim to create fairness and equity in how information is shared so that every Nigerian, regardless of location, can benefit.” Bridging Regional Gaps Sawyerr acknowledged the initial hesitation from some parts of the country but confirmed that recent efforts are successfully addressing these concerns. The Southern regions, once reluctant, are now showing increased interest and applications. NELFUND remains committed to reaching every corner of Nigeria to ensure that all students can access the opportunities provided by this initiative. “We believe the activities we’ve put in place will continue to encourage more applications. Regions that were initially skeptical are now growing faster in their participation,” Sawyerr concluded. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
