The Tertiary Education Trust Fund (TETFund) has indicated an increment in education tax from N189 billion in 2021 to N300 billion in 2022 fiscal year.
The Executive Secretary of the Fund, Arch. Sonny Echono revealed this at a one day meeting with the Heads of tertiary beneficiary institutions in Abuja.
He said the Fund received N257 billion in the 2020 for disbursement to beneficiary institutions as against the N189 billion naira approved in 2021 leaving a shortfall of N68 billion due to COVID-19 pandemic.
Echono however commended President Buhari unwavering commitment to the education sector especially in the 2.5 percent increase in education tax.
The TETFund boss further explained the agenda for the meeting saying it is expected to focus on a number of concerns by the Fund in delivering its mandate as enshrined in the Act.
The meeting was attended by heads of Tertiary Institutions cutting across universities, Polytechnic and colleges of Education.
