Nigerian VC Seeks Inclusion of Private Varsities in TETFUND

Vice Chancellor, Christian University of Mkar, Professor Lorwuese Gernah, has called on the Nigerian National Assembly to amend TETFUND act to accommodate grant to private universities.

Gernah made the appeal during a press conference to the commencement of the activities for the 4th convocation of the University of Mkar, Mkar, Benue State.

The Vice Chancellor stated that the need to amend TETFUND Act was imperative because at the time the law was enacted, there were no private universities in the country.

He stressed further that TETFUND is driven from company and petroleum taxes and there is need to extend it to private universities.

Tertiary Education Trust Fund abbreviated as TETFUND is a scheme established by the Federal Government of Nigeria in 2011, to disburse, manage and monitor education tax to government-owned tertiary institutions in Nigeria.

TETFUND scheme was formed as a product of the Education Tax Act of 1993. Prior to the establishment of the scheme in 2011, government-owned tertiary institutions were poorly funded. The scheme was designed to improve on the managements of funds disbursed to these institutions.