Utweets
The Tertiary Education Trust Fund (TETFund) said it has collected a record-breaking Education tax of N1.5 trillion in 2024. The Executive Secretary of the Fund, Arch. Sonny Echono who disclosed this at the TETFund stakeholders engagement on Monday in Abuja, said this was made possible due to the approval of President Bola Tinubu the Education tax from 2.5% to 3% sometimes last year. ...READ THE FULL STORY FROM SOURCE ↔️
“The increase last year, in the Education Tax from 2.5% to 3% – authorized by the Commander-in-Chief, President Bola Ahmed Tinubu, represents a significant stride for TETFund. This change, culminating with a record-breaking Education Tax collection of approximately 1.5 trillion Naira so far this year, reinforces the government’s dedication to strengthening Nigeria’s educational framework”.
“We now enter the 2025 budget cycle with a stronger foundation, one that allows us to enhance our impact across the country’s tertiary institutions”, he said.
“At this juncture, the Fund wishes to extend our appreciation to the Federal Inland Revenue Service (FIRS), who have been our able and reliable partner from inception to date, for their steadfastness and diligence in ensuring the timely and transparent collection of funding accrued from the Education Tax in our beloved nation, to propel our tertiary institutions towards global recognition and excellence”.
According to him, the revenue generated from the education tax plays a significant role in maintaining and improving the infrastructure of the nation’s institutions, enhancing academic programs, and promoting accessibility for students from diverse backgrounds.
Echono maintained that the Year 2024 has been an eventful year for the Fund and saw her engaging several activities, notably and most recently the inauguration of the much-awaited Board of Trustees, ably chaired by RT. Hon. Aminu Bello Masari, who together with his team of Board members have quickly settled to the onerous task of steering the Fund in the direction needed for sustained impact. …READ THE FULL STORY FROM SOURCE ↔️
