Private universities and other institutions in the country that have been clamouring for the intervention of the Tertiary Education Trust Fund, TETfund, may well be considered for such if the proposed increase of the education tax from the current two percent to four is approved by the federal government.
This was disclosed by the Executive Secretary, TETfund, Professor Suleiman Elias Bogoro, while addressing newsmen in his office in Abuja recently.
Bogoro said the Federal Ministry of Education had already sent a comprehensive report to the presidency in which it recommended an increase in the education tax from its present two percent to between three and four percent.
He assured that, as soon as the presidency reviews the proposal for the increase in the education tax and the National Assembly commences the process of amending the TETfund Act to accommodate the increase, the fund will play the expected supportive role to facilitate the process.
“For us at TETfund, it may just be that government has taken a decision and we are supposed to ensure that it is facilitated. At that point, the agency will make whatever contribution necessary to facilitate the movement of the emanating Executive Bill that would raise the collection from two to four percent,” he said.
He said the development would mean a lot for TETfund, especially given the fact that TETfund Act cannot be changed without legislation from the National Assembly.
The Executive Secretary attributed the recent ranking of 28 Nigerian universities among the top 100 in Africa to the aggressive intervention and concentration of government attention on public tertiary institutions as well as massive support of TETFund.