President Bola Tinubu has officially scrapped the controversial automatic deduction of 40 percent from federal universities’ Internally Generated Revenue (IGR).
The Minister of Education, Tahir Mamman, conveyed this pivotal announcement during his address at the 75th Founder’s Day ceremony of the University of Ibadan (UI) on Friday, November 17.
The original proposal, disclosed by the Ministry of Finance in October, triggered a diverse range of reactions, notably from the Academic Staff Union of Universities (ASUU) and various stakeholders. ASUU’s national president, Prof. Emmanuel Osodeke, vehemently argued that universities should not be treated as revenue-generating entities, emphasizing that student fees are intended to fund essential tools for quality education.
The policy drew criticism for its potential to exacerbate financial challenges within the university system.
Adding to the dissent, the Committee of Vice Chancellors of Nigerian Universities lodged their opposition by sending a protest letter to the Federal Government.
They said the perceived injustice of mandating a 40 percent deduction from universities’ IGR, especially when autonomy had not been granted by the government.
In response to these concerns, President Tinubu acknowledged the untimely nature of the policy implementation, stating, “The 40 percent IGR automatic deduction policy stands cancelled.
This is not the best time for such a policy since our universities are struggling.” The cancellation aims to alleviate financial burdens on universities and address the pressing challenges they currently face.