Wednesday, November 29, 2023

FG reverses policy of 40% deductions from Nigerian varsities’ IGR

Mr Tinubu reiterated his commitment to the education sector in line with the 2030 education agenda of the government and African Union goal 2063.

• November 17, 2023
President Bola Tinubu (Credit: Bola Tinubu)
President Bola Tinubu (Credit: Bola Tinubu)

The federal government has announced the reversal of the implementation of payment of 40 per cent of Internally Generated Revenue (IGR) from Nigerian universities to the government.

President Bola Tinubu announced this at the 75th anniversary and 2023 convocation ceremonies of the University of Ibadan on Friday.

Mr Tinubu, represented at the event by the Minister of Education, Tahir Mamman, said the Ministry of Finance had been engaged to stop the circular for the implementation.

“We know that this law was enacted in 2020, and the circular was issued in 2021, but this is not a good time for such a policy,” he said.

Mr Tinubu reiterated his commitment to the education sector in line with the 2030 education agenda of the government and African Union goal 2063.

He said, “The federal government is bringing more innovation to reform the entire education sector for curriculum review at all levels from primary to basic education with the reintroduction of skills to attend to out-of-school menace.”

The president noted that the introduction of student loans was to ensure that no student was left out of education due to poverty.

Mr Tinubu stated that he was aware of the problem of industrial disputes of the past; hence, his administration would pay attention to issues of welfare and all factors generating industrial disputes.


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