The proposed Nigeria Tax Bill 2024 has sparked significant controversy, particularly due to its impact on TETFund (Tertiary Education Trust Fund). The bill aims to abolish the Education Tax and divert all its proceeds to the newly established Nigeria Education Loan Fund (NELFUND), effectively phasing out TETFund by 2030.
Timothy, speaking on behalf of the Academic Staff Union of Universities (ASUU) Bauchi zone, strongly condemned the bill, calling it “dangerous and unpatriotic.” He warned that this shift in funding would jeopardize tertiary education in Nigeria, as TETFund has played a critical role in infrastructural development, postgraduate training, and research since 1993.
The bill outlines a phased reduction in TETFund’s funding:
• 2025-2026: TETFund will receive only 50% of Development Levy collections, with the rest distributed among NITDA, NASENI, and NELFUND.
• 2027-2029: TETFund’s share will rise slightly to 66.7%.
• 2030 onwards: TETFund will receive zero funding, with all proceeds directed to NELFUND.
ASUU, alongside other stakeholders, is calling on the National Assembly to reject the bill and protect the TETFund Act 2011. Timothy urged Nigerians to resist anti-people policies and safeguard the future of the country’s education system.
The debate surrounding the bill continues to escalate, with academic unions, political leaders, and northern stakeholders voicing strong opposition to the proposed changes.
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