The Academic Staff Union of Universities (ASUU) has urged the National Assembly to reject any elements of the proposed Nigeria Tax Bill 2024 that could jeopardize the existence or effectiveness of the Tertiary Education Trust Fund (TETFund).

ASUU emphasized the critical role of TETFund in supporting tertiary education in Nigeria.

Established by the Federal Government in 2011, TETFund was created to allocate, manage, and oversee the distribution of education tax funds to government-owned tertiary institutions.

Its purpose is to improve the quality of higher education in the country.

During a press briefing at the University of Medical Sciences, Ondo (UNIMED), Prof. Adeola Egbedokun, ASUU Coordinator for the Akure Zone, highlighted TETFund’s vital contributions to enhancing Nigeria’s tertiary education system, positioning it for global competitiveness and long-term development.

Egbedokun stressed the importance of collective action in protecting TETFund, describing its preservation as a national priority.

He noted that ASUU has historically championed TETFund’s establishment through sustained dialogue with successive Nigerian governments since 1992.

Any effort to repeal or undermine the TETFund Act of 2011, he warned, would be a severe setback for education and the nation.

He called on the leadership of the National Assembly, particularly the Senate President and Speaker of the House of Representatives, to leverage their positions to ensure TETFund remains secure within the framework of the Nigeria Tax Bill 2024.

Egbedokun further argued that maintaining TETFund is crucial for safeguarding the future of education and promoting sustainable national development.

Diverting portions of the education tax to entities outside the scope of the TETFund Act 2011, he stated, would be unlawful and must be prevented.

He specifically criticized prioritizing the newly-established Nigerian Education Loan Fund (NELFUND) over TETFund, describing such a move as unethical and counterproductive.

The ASUU coordinator praised TETFund for its transformative impact on infrastructure development, research funding, and postgraduate training in public tertiary institutions.

He warned that dismantling the fund would reverse many of these advancements. He also pointed out that countries like Ghana have modeled similar education trust funds after TETFund, and other African nations have sought to learn from its success.

Egbedokun concluded by advocating for the enhancement and continuation of TETFund’s achievements rather than its elimination.

He called on Nigeria to strengthen the fund, ensuring its long-term sustainability and continued contributions to the country’s educational and developmental goals.