Union applauds Tinubu for cancelling 40% IGR deduction policy for tertiary institutions

President Bola Tinubu has received praise from the Senior Staff Union in Colleges of Education, Nigeria (SSUCOEN) for rescinding the order requiring postsecondary institutions to provide the federal government 40% of their Internally Generated Revenue (IGR).
The praise was delivered by SSUCOEN President Danladi Msheliza in a statement on Monday, November 20, in Abuja.

The union asked President Tinubu to reexamine earlier agreements meant to raise educational standards.

The President was listened to with reason and concerns expressed by SSUCOEN regarding the progressive harm that the 40% deduction would have caused to the already beleaguered tertiary education sub-sector due to a lack of funding.

At the University of Ibadan’s 75th Founder’s Day celebration, Minister of Education Prof. Tahir Mamman (SAN), speaking in President Tinubu’s place, declared the policy’s cancelation.

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During his visit to the University, the President reaffirmed his dedication to reforming the country’s educational system as the cornerstone of its progress.

40% of the Internally Generated Revenue (IGR) deposited in the accounts of Universities, Polytechnics, Colleges of Education, and Monotechnics will be automatically deducted via the Treasury Single Account beginning in November 2023, according to a recently leaked memo from the Nigerian government addressed to the heads of all tertiary institutions.

The statement went on, “SSUCOEN want the government to focus on strengthening and sustaining the country’s image and leave the revenue generated internally alone.”