Education

Tax reform has inimical effect on TETFund, tertiary education – COEASU

Published

6 months ago

December 4, 2024

Mariam Sanni

The Colleges of Education Academic Staff Union (COEASU), has noted with serious concern the inimical effect of the proposed tax reforms of the Federal Government on Tertiary Education in Nigeria.

This is contained in a statement made available to newsmen in Abuja by COEASU President, Dr Smart Olugbeko.

According to Olugbeko, the tax reform is a dangerous ambush aimed at destroying public tertiary institutions in Nigeria.

We strongly reject the aspects of the proposed tax administration which aims to withdraw or impede on the source of fund to Tertiary Education Trust Fund (TETFund).

” Such injury, if allowed to stand, is bound to undermine the development of public tertiary education in Nigeria.

“TETFund is a brainchild of the struggles of academic staff unions in tertiary institutions led by the Academic Staff Union of Universities (ASUU).

“Prior to the establishment of TETFund, infrastructure in tertiary institutions were in a shambles and government of Nigeria became clueless on the way forward until ASUU came up with a brilliant idea of a trust fund for the education sector,” he said.

Olugbeko expressed concern that no Nigeria government in the last two decades or more had committed up to 9 per cent of the annual budget to education despite the UNESCO recommendation that 26 per cent of the annual budget be dedicated to education.

He added that the aspect of the tax reform that allowed TETFUND to be stifled of its source of Fund would gradually ‘drag tertiary institutions into the stock market making them become capitalistic ventures for the highest bidders’.

“Except for TETFund which has become the spine and lifeblood of public tertiary education funding, Nigerian Universities, Polytechnics and Colleges of Education would have gone comatose.

“TETFund has been playing indispensable and exclusively vital role in the development of tertiary institutions in Nigeria, providing funding for infrastructure, research, teaching and learning facilities as well as staff development,” he added.

The president condermned the attack on TETFund without prejudice to the potential strengths of the proposed tax administration law in expanding the tax base and reinforcing compliance towards economic stimulation.

“Rather than killing TETFund through the purported tax reform, the federal government should strengthen and expand its revenue accrual sources with a view to sustaining the Fund’s commendable efforts in our institutions.”

He called on stakeholders in education including students, parents, educators, the civil society to join hands with the union in rejecting proposal in order to save public tertiary education.

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Education

NELFUND assures students of smart system to improve loan access

Published

1 month ago

May 7, 2025

The Gleamer

Mariam Abeeb

The Nigerian Education Loan Fund (NELFUND) has assured students it was working assiduously towards building a technology driven system that would improve easy access to its loans.

This was as the FUND disclosed that no fewer than 320,000 students have thus far been paid with many more currently undergoing verification process to enable their payments.

Managing Director and Chief Executive Officer NELFUND, Mr. Akintunde Sawyerr gave the assurances in Abuja, while addressing Polytechnics , Monotechnics and Institutes at a Stakeholders Engagement Session/ Technical Workshop on NELFUND System Automation and Loan Application Processes.

Sawyerr noted that the FUND was targeting a platform where students could access loan with confidence and without stress in a manner that was transparent and accountable.

He said: “At NELFUND our mission goes beyond giving loans. It’s about opening doors, it’s about making sure every young Nigerian who is willing to learn and grow has a real shot regardless of their background, location, or chosen path of study.

“For too long, many students, especially in technical institutions, have faced steep financial barriers; some drop out, others have never even applied. This is the gap we at NELFUND are here to close. But we know we can’t do it alone.

“This is a shared mission. It belongs to all of us, government institutions and the private sector alike. This technical workshop marks a major step forward.

“We’re not only providing financing, we’re building a technology-driven system that makes it easier for students to apply, for institutions to verify, and for funds to be disbursed with speed, fairness, and accountability.

“We’re aiming for access without stress, a platform students can use with confidence; transparency and trust so that no one is left wondering where their application stands; partnership with purpose because your feedback, your data, and your cooperation are critical to making this work. We rely on you as our institutional partners to help us bring this vision to life.”

Sawyerr who commended the institutions for providing technical expertise, practical hands-on training that fuels industries and empowers communities over the years, said besides teaching skills, they have built careers, created employers and strengthened economies.

“You know your students, you understand their struggles, your insights will help us tailor this system to reflect the realities on ground, not just assumptions on paper.

“To NBTE, we value your steady leadership in shaping and regulating technical education. Your collaboration is key as we move forward fully.”

The NELFUND boss urged the institutions to partner with the FUND to deliver a system that was not just functional or sustainable, but one that was transformative

“As we move forward fully, integrating NELFUND processes with institutional systems and standards, let us remember at the heart of all of this is a student, a young Nigerian with dreams, with ambition, and the courage to pursue them. Everything we do must serve that student.

“The only way to make it happen is by working together, listening to one another, and staying grounded in real-world challenges. I encourage you all to engage fully today share what’s working and what is not, and together let’s build something that lasts.”

NELFUND ‘s Executive Director, Operations, Mr. Iyal Mustapha, disclosed that apart from the 320,000 students who have so far been paid, more verifications are currently ongoing.

Mustapha, who explained that the failure of not having the number of registered students tally with the number of students whose application process was deemed successful was from the part of students and not NELFUND, said there was an urgent need to bridge the gap.

He also disclosed that the FUND was considering connecting directly to institution’s portal to get the data they need, and how student could apply to their institutions portal without necessarily reaching out to NELFUND.

“One other thing that we’re trying to do going forward is to send some of our IT to all the institutions so that we can see how possible it is we connect directly to your portal instead of saying please send us data. How can we connect using an API which makes it easier to get the data of any student coming to us directly from your portal and not from our portal. So we don’t need to be collecting any data again.

“At the same time, we’re thinking of seeing how is it possible that a student can apply to your portal without coming to us. So it makes it so easy for the student when they’re doing registration, when they’re doing payments, they can select either to apply for NELFUND loans and the process will go through your portal. So you have all the data without ever reaching to NELFUND. All we need is for you to give assurance these are your students and if we have that, we pay you directly. It makes it simpler and faster for all the students.”

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