November 17, (THEWILL) – The Federal Government has cancelled the automatic deduction of 40 per cent from federal universities’ Internally Generated Revenue (IGR).
Minister of Education, Tahir Mamman, disclosed this on Friday at the 75th Founder’s Day ceremony of the University of Ibadan (UI).
The Ministry of Finance had last month notified academic institutions nationwide of its plan to automatically deduct 40 per cent from their IGR.
ASUU had a statement, signed by its national president, Prof. Emmanuel Osodeke, explaining that universities were not revenue-generating agencies, saying that the obligatory fees paid by students were to provide the necessary tools for them to be properly educated. Osodeke noted that the policy will impoverish the university system.
Also, the Committee of Vice Chancellors of Nigerian Universities had written a protest letter to the Federal Government, demanding that the government rescind the plan, adding that the government could not be demanding 40 per cent of varsities IGR when it had refused to grant them autonomy.
Disclosing the cancellation on Friday, Mamman, quoting President Bola Tinubu, said, “The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”
