McPherson University VC Advocates Inclusion of Private Varsities in Student Loan and TETFund Programs
The VC argued that private universities contribute significantly to the country's economy through tax payments. He called on the Federal Government and the Ministry of Education to consider including private universities in TETFund, citing their contributions to the national economy.
AKACHI NOEL 
Professor Francis Adegbaye Igbasan, the Vice Chancellor of McPherson University, has urged the Federal Government to extend the benefits of student loans and Tertiary Education Trust Fund (TETFund) intervention programs to private universities in Nigeria. Speaking at the university campus in Seriki Sotayo, Ogun State, Professor Igbasan highlighted the need for private institutions to be included in these support initiatives.
Expressing concern, Professor Igbasan stated that private universities currently do not enjoy the advantages of student loans and TETFund, emphasizing that this exclusion is unwarranted. He dispelled the misconception that only affluent families send their children to private universities, noting that many parents at McPherson University are struggling to afford the cost of education.
The VC argued that private universities contribute significantly to the country's economy through tax payments. He called on the Federal Government and the Ministry of Education to consider including private universities in TETFund, citing their contributions to the national economy.
Addressing the Federal Government's directive for public universities to remit 40 percent of their Internally Generated Revenue (IGR), Professor Igbasan criticized the policy as unrealistic. He revealed that federal universities have faced challenges in obtaining funds for capital projects and rely heavily on TETFund for support.
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In light of this, the VC proposed that private universities be granted tax relief to alleviate financial burdens and contribute to their development. Professor Igbasan emphasized the importance of recognizing the role private universities play in the nation's education sector and urged policymakers to reconsider their stance on their exclusion from TETFund.
In conclusion, the Vice Chancellor urged the government to reevaluate its policies to ensure equitable access to support programs for both public and private universities, fostering a conducive environment for quality education across the board.
