The Academic Staff Union of Universities (ASUU) has urged the Nigerian government to release and use the unspent funds set aside for tertiary education. ASUU believes that leaving these funds unused slows down the growth and progress of Nigeria’s universities. This call was made during a meeting organized by the Tertiary Education Trust Fund (TETFund) in Abuja, where leaders from institutions discussed how to better use education funds.
During the event, TETFund Executive Secretary Arch. Sonny Echono shared that with the recent increase in education tax from 2.5% to 3%, TETFund has a greater capacity to fund infrastructure and academic programs across Nigeria’s tertiary institutions. Echono noted the importance of collaboration among institutions to set clear goals that align with TETFund’s mission, aiming to maximize the impact of available resources.
ASUU President, Prof. Emmanuel Osodeke, expressed concern over proposed tax reforms that may impact TETFund’s revenue. He cautioned that while these changes might benefit industries, they could also reduce essential funds for tertiary education. He also highlighted inefficiencies in accessing funds, revealing that a significant amount remains idle at the Central Bank, making it difficult for universities to access the resources intended for their development.
Prof. Osodeke also criticized the suggested establishment of NELFund, a proposed loan scheme for students, as a potential misuse of funds. He warned that diverting unused resources into student loans would stray from TETFund’s primary mission to support institutional development.
Chairman of TETFund’s Board of Trustees, Hon. Aminu Bello Masari, added that universities should consider generating revenue independently, rather than depending solely on government allocations. He urged institutions to reduce political interference in educational policy-making to foster a more effective system.
The meeting emphasized the importance of using funds effectively in Nigeria’s tertiary education sector. Both ASUU and TETFund leaders stressed the need for reforms and policies that will promote the growth of the education sector. They hope that these discussions will result in actions that improve the impact of education funding and tackle the sector’s most urgent challenges.
