ASUU Demands Use of Backlogged Unspent Funds for Tertiary Education Development
The Academic Staff Union of Universities (ASUU) has called for the immediate utilization of unspent funds allocated for tertiary education, warning that leaving these resources stagnant could impede the growth of Nigeria’s universities.
This concern was raised during a one-day strategic engagement organized by the Tertiary Education Trust Fund (TETFund) in Abuja. The event brought together leaders of institutions benefiting from the fund to discuss how to enhance the impact of tertiary education financing.
Arch. Sonny Echono, the TETFund’s Executive Secretary, highlighted the meeting as a crucial step toward aligning the agency’s priorities with the needs of its stakeholders.
Furthermore, He pointed to the recent increase in the education tax from 2.5% to 3%, which he believes will enable TETFund to contribute more effectively to university infrastructure, and academic programs, and improve access to quality education nationwide.
Furthermore, Prof. Emmanuel Osodeke, ASUU President, voiced concerns about potential tax changes that could reduce the funding available for universities. While the proposed tax cuts are intended to benefit industries, Osodeke warned they could undermine funding for higher education. He also criticized the inefficiency in fund allocation, pointing out that large sums of money remain unused for years, trapped in the Central Bank. This mismanagement has led to a situation where universities are unable to access or utilize the funds meant to support their operations and development.
The event also featured comments from Hon. Aminu Bello Masari, Chairman of TETFund’s Board of Trustees, who called for the removal of politics from educational policy. He encouraged universities to seek independent revenue-generating opportunities, rather than relying solely on government funding. The discussions highlighted the urgent need for more efficient utilization of funds in Nigeria’s tertiary education sector, as well as the importance of effective policies to support the continued development of higher education in the country.
