President Tinubu Stops 40 Per cent Deduction From Varsities’ IGR, Says Policy Ill-timed

By Ayodele Oni

Bowing to public outcry, President Bola Tinubu has announced the cancellation of the automatic deduction of 40 percent from federal universities’ Internally Generated Revenue (IGR).

The president spoke through the Minister of education, Tahir Mamman, at the 75th Founder’s Day ceremony of the University of Ibadan (UI) on Friday.

The Ministry of Finance had informed academic institutions in the country about its intention to automatically deduct 40 percent from their Internally Generated Revenue (IGR).

This move, generated mixed reactions, especially from the Academic Staff Union of Universities (ASUU), and other stakeholders.

Prof. Emmanuel Osodeke, ASUU national president, had in a statement explained that universities were not revenue-generating agencies, saying that the obligatory fees paid by students were to provide the necessary tools for them to be properly educated.

The Committee of Vice Chancellors of Nigerian Universities expressed their objection to the Federal Government’s plan in a protest letter, urging a reversal.

They emphasized that it was inconsistent for the government to demand 40 percent of universities’ Internally Generated Revenue (IGR) while withholding autonomy.

To address the concerns raised, the president noted that the policy implementation is ill-timed.

He said: “The 40 percent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”