The Tertiary Education Trust Fund TETFund says it has collected 1.5 trillion naira education tax in 2024.
TETFund Executive Secretary, Arch Sonny Echono who disclosed this at a stakeholders meeting with Heads of beneficiary institutions for the 2025 Intervention guidelines in Abuja said the feat was achieved due to the increment in education tax from 2 to 3 percent as approved by President Tinubu in 2023.
He commended the federal Inland revenue service for the upsurge in revenue collection saying it has impacted the funds mandate in maintaining and improving infrastructures in the nations tertiary institutions, enhancing academic programmes as well as providing access for students from diverse backgrounds.
The TETFund boss further emphasised the need for continuous assessment to ensure the Funds interventions are maximised in the face of new challenges and expectations and harped on the drive for stronger collaborations with industry partners.
In his remarks, the Permanent Secretary, Ministry of Education, Dr Nasir Sami-Gwarzo challenged the heads of beneficiary institutions on initiatives that will ensure the nation education remains relevant and competitive on a global scale.
Other takeaways from the meeting includes the urgent need for the Stakeholders to engage on building partnerships,exploring innovative ways to connect institutions with industry leaders as well as forstering relationships that will benefit students and the nations economy.
