PRESIDENT Bola Ahmed Tinubu has cancelled the proposed 40 per cent automatic deductions from internally generated revenues (IGR) of federal universities, saying the policy is inappropriate at this period.
This was disclosed yesterday (Friday 17 November) by the Minister of Education, Tahir Mamman, who represented the President at the ongoing 75th Founder’s Day ceremony at the University of Ibadan (UI).
In his speech as the Visitor to the nation’s premier university, Mr Tinubu pledged his commitment to the reform of the education sector as the base for national development.
Tinubu said, “The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.
“We know that this law was enacted in 2020 and the circular was issued in 2021, but this is not a good time for such a policy,” he said.
Mr Tinubu reiterated his commitment to the education sector in line with the 2030 Education Agenda of the government and African Union goal 2063.
He said, “The Federal Government is bringing more innovation to reform the entire education sector for curriculum review at all levels from primary to basic education with the reintroduction of skills to attend to out-of-school menace.”
The President noted that the introduction of student loans was to ensure that no student was left out of education due to poverty.
Eighteen-Eleven Media