WATCH THE VIDEO HERE Naijaonpoint reports that the academic union contended that if enacted, the bill would progressively diminish the funding allocated to the Tertiary Education Trust Fund (TETFund) starting this year, ultimately leading to a complete depletion of the Fund’s resources by 2030. The Coordinator of ASUU Yola Zone, Dani Mamman, stated that it is intolerable for the contentious NTB 2024 to aim at undermining TETFund by designating only 50 per cent of the development levy to TETFund from 2025 to 2026, while the remaining portion is redirected to NITDA, NASENI, and NELFUND. The zone, which includes Adamawa State University (ADSU) Mubi, Modibbo Adama University (MAU) Yola, Federal University Gashua (FUGA), Taraba State University (TSU) Jalingo, University of Maiduguri (UNIMAID), and Yobe State University (YSU) Damaturu, emphasized that the bill would effectively dismantle TETFund and severely impact tertiary education. The association further asserted that it cannot accept the provisions that would further diminish TETFund’s allocation between 2027 and 2029, culminating in a 0% allocation by 2030. ASUU said it opposed “Replacing TETFund’s vital role with NELFUND such that by the year 2030 and beyond, TETFund will receive zero allocation from the development levy.” The academic union added that TETFund has done so much to put infrastructure in universities and other tertiary institutions of learning, stressing that depriving it of funds may return such institutions to the bad state that they were which informed the creation of TETFund in the first place. “Redirecting funds meant for TETFund to other agencies contradicts the TETFund Act 2011 and a gross misallocation of resources,” the union stressed.
The Yola Zone of the Academic Staff Union of Universities (ASUU) has expressed its disapproval of the proposed Nigeria Tax Bill (NTB) 2024, urging the National Assembly to also reject the legislation.
ASUU Begs NASS To Reject Tinubu’s Tax Reform Bill
