Tinubu cancels planned 40% deduction from varsities’ IGR

Tinubu cancels planned 40% deduction from varsities’ IGR

The Federal Government has announced the suspension of the planned deduction of 40 per cent from the Internally Generated Revenue (IGR) of federal universities.

The Minister of Education, Tahir Mamman, who represented President Bola Ahmed Tinubu at the 75th Anniversary and 2023 Convocation Ceremonies of the University of Ibadan, Ibadan, the Oyo State capital, held at the International Conference Centre, disclosed that the Ministry of Finance has been directed to ensure that the policy does not come into effect.

Tinubu reiterated the commitment of his administration to the education sector in line with the 2030 education agenda of the government and African Union goal 2063. He said: “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.

“The Federal Government is bringing in 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,” he said.

The president noted that the introduction of students’ loans was to ensure that no student drops out of school due to poverty. Tinubu acknowledged that industrial disputes had affected the smooth running of universities in the past, adding that the government was determined to ensure that the institutions do not face such challenges anymore.

“Councils for the universities have been constituted as part of the government’s efforts to bring innovation and revive the education sector, including curriculum reviews across all levels from primary to tertiary education,” he added.

On his part, the Chancellor of the university and Emir of Sokoto, Alhaji Sa’ad Abubakar, congratulated the institution on its notable achievements in the last 75 years.

Abubakar said the celebration also called for reflections on the impact of the university on the communities, noting that knowledge from the university must benefit the communities and Nigeria through quality research.

He added that public service has failed compared to what obtained 50 years ago, stressing that universities must rise up to salvage it through quality graduates.

Earlier in his address, the Vice Chancellor of the university, Prof. Kayode Adebowale, charged the graduands not to rest on their oars. Adebowale noted that a total of 6,865 graduands received first degrees in various disciplines across 17 faculties; 2,842 received Academic Masters Degree, 131 Postgraduate Diplomas and 25 Master of Philosophy.

The VC said a total of 722 graduands from various disciplines were awarded Doctor of Philosophy degrees while Prof. Mayowa Owolabi was awarded Doctor of Science, a higher doctorate degree.

“The university will not relent in its resolve to be the flagship of postgraduate studies in the nation,” Adebowale said.