President Bola Tinubu has cancelled the controversial deduction of 40 per cent of Internally Generated Revenues from federal universities across the country.
The President who was represented by the Minister of Education, Tahir Mamman, spoke on Friday at the 75th Founder’s Day ceremony of the University of Ibadan and described the policy implementation as “ill-timed”.
He also maintained that it was not the best time for such a policy since our universities are struggling.
In his speech as a Visitor to the university, Tinubu pledged his commitment to the reform of the nation’s education sector as the bedrock for national development.
He 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 policy,” he said.
Tinubu reiterated its 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.”
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