Reason Why ASUU Begs NASS To Reject Tinubu’s Tax Reform Bill

The Yola Zone of the Academic Staff Union of Universities (ASUU) has voiced its strong disapproval of the proposed Nigeria Tax Bill (NTB) 2024, calling on the National Assembly to reject the legislation.....KINDLY READ THE FULL STORY HERE▶

The academic union contended that if passed, the bill would gradually reduce funding allocated to the Tertiary Education Trust Fund (TETFund), potentially depleting the Fund’s resources entirely by 2030.

Dani Mamman, Coordinator of ASUU Yola Zone, stated that it is unacceptable for the controversial NTB 2024 to undermine TETFund by designating only 50 per cent of the development levy to TETFund from 2025 to 2026, while redirecting the remaining portion to NITDA, NASENI, and NELFUND.

The zone, which includes Adamawa State University (ADSU) Mubi, Modibbo Adama University (MAU) Yola, Federal University Gashua (FUGA), Taraba State University (TSU) Jalingo, University of Maiduguri (UNIMAID), and Yobe State University (YSU) Damaturu, emphasized that the bill would effectively dismantle TETFund and severely impact tertiary education.

The association further asserted that it cannot accept provisions that would reduce TETFund’s allocation between 2027 and 2029, ultimately leading to a 0% allocation by 2030.

ASUU opposed “replacing TETFund’s crucial role with NELFUND, such that by the year 2030 and beyond, TETFund will receive zero allocation from the development levy.”

The academic union highlighted that TETFund has made significant contributions to infrastructure in universities and other tertiary institutions, stressing that depriving it of funds could revert these institutions to their previous state, which necessitated the creation of TETFund in the first place.

“Redirecting funds intended for TETFund to other agencies contradicts the TETFund Act 2011 and constitutes a gross misallocation of resources,” the union emphasized.