Stakeholders hail TETFUND for education infrastructure
Stakeholders drawn from benefiting tertiary institutions, Academics and scholars who had completed their scholarship training abroad, were united at the weekend in Port Harcourt in commending the contributions made by the Tertiary Education Trust Fund (TETFUND) to the infrastructural transformation as well as ensuring robust academic activities in the nation’s tertiary institutions
Speaking on behalf of heads of benefitting tertiary institutions in the South –South geopolitical zone at the joint TETFund/Federal Inland Revenue Services (FIRS) interactive forum in Port Harcourt, the Vice Chancellor of university of Port Harcourt, Professor Ndokwa Lela said the interventionist agency had left a visible landmark in the growth and development of tertiary education in Nigeria
Meanwhile, the Executive Secretary of TETFUND, Dr. Abdullahi Bichi Baffa, has called for the expansion of the two per cent education tax net to more corporate entities.
Baffa, who made the call during the joint TETFund/Federal Inland Revenue Services (FIRS) interactive forum, also made a case for the enforcement of tax payment compliance on companies, to shore up the revenue generation base of the agency
He said: “One of the key things we want is enforced compliance. Those companies that are within the education tax net should pay correctly and those that are outside should be brought in”.
On the recent ranking of the University of Ibadan (UI) as 801 best university in the world, Baffa said that more institutions in the country would soon be added to the list of top varsities at the global level.
He said the improved ranking of UI by Times Higher Education World University Ranking was largely due to TETFund intervention projects.
His words: “It is very gratifying for the Fund, as it is for every Nigeria to hear that University of Ibadan is among the top 5 per cent universities in the world. This is one testimony that TETFund intervention is making the desired impact…, let me assure UI and indeed all other all beneficiary institutions that you would continue to enjoy the improved and determined support of the Fund at every step of your journey to the top of the league table.”
While noting that President Muhammadu Buhari’s concern about the low ranking of Nigerian universities, Baffa said TETFund has been tasked to work with relevant institutions to arrest and reverse the trend.
“To achieve this, would require among other things, focused and targeted inflow of funding to our benefiting institutions through the Fund,” he said.
Baffa, who made the call during the joint TETFund/Federal Inland Revenue Services (FIRS) interactive forum, also made a case for the enforcement of tax payment compliance on companies, to shore up the revenue generation base of the agency
He said: “One of the key things we want is enforced compliance. Those companies that are within the education tax net should pay correctly and those that are outside should be brought in”.
On the recent ranking of the University of Ibadan (UI) as 801 best university in the world, Baffa said that more institutions in the country would soon be added to the list of top varsities at the global level.
He said the improved ranking of UI by Times Higher Education World University Ranking was largely due to TETFund intervention projects.
His words: “It is very gratifying for the Fund, as it is for every Nigeria to hear that University of Ibadan is among the top 5 per cent universities in the world. This is one testimony that TETFund intervention is making the desired impact…, let me assure UI and indeed all other all beneficiary institutions that you would continue to enjoy the improved and determined support of the Fund at every step of your journey to the top of the league table.”
While noting that President Muhammadu Buhari’s concern about the low ranking of Nigerian universities, Baffa said TETFund has been tasked to work with relevant institutions to arrest and reverse the trend.
“To achieve this, would require among other things, focused and targeted inflow of funding to our benefiting institutions through the Fund,” he said.
