The Colleges of Education Academic Staff Union (COEASU) has showed concerns regarding recent tax reform bills introduced by the Federal Government, warning that these changes could kill the Tertiary Education Trust Fund (TETFund) and, consequently, the future of Nigeria’s tertiary education system.
In a statement issued and signed by COEASU President Dr. Smart Olugbeko, the union highlighted that the proposed reforms threaten to sever critical funding sources for TETFund which could severely undermine the development of public tertiary institutions in Nigeria.
“Our Union, 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.
“The tax reform is nothing but 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,” he said.
Dr. Olugbeko noted that the Tetfund was a product of decades-long advocacy by academic unions, particularly the Academic Staff Union of Universities (ASUU), stressing that before its establishment, Nigeria’s tertiary institutions were grappling with decayed infrastructure and inadequate funding.
He cautioned that withdrawing TETFund’s funding source could push public tertiary institutions into the stock market, transforming them into profit-driven ventures accessible only to the wealthy.
“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 an indispensable role in the development of tertiary institutions in Nigeria, providing funding for infrastructure, research, teaching, and staff development,” said Dr. Olugbeko.
The union also commended TETFund for its efficiency and transparency, describing it as one of Nigeria’s best-managed government agencies; as such, it should be strengthened.
“Rather than killing TETFund through the purported tax reform, the Federal Government should strengthen and expand its revenue accrual sources to sustain the Fund’s commendable efforts in our institutions,” Dr. Olugbeko urged.
The union called on stakeholders in the education sector, including students, parents, educators, and civil society groups, to reject the proposed reforms and safeguard public tertiary education in Nigeria.
