Senate moves to Increase Of Education Tax from 2.5 per cent to three per cent to Boost Research

The Senate committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFund) has expressed the need for an increase in education tax from 2.5 per cent to three per cent to improve research and development in the country.

The committee made the call on Thursday during its oversight visit to TETFund to ascertain the level of the 2021/ 2022 performance of the budget.

Chairman of the committee, Senator Ahmed Baba Kaita, noted that the 2.5 per cent education tax paid from accessible profit of companies registered in Nigeria has obviously had a massive and sustained impact on improving tertiary education in Nigeria through several interventions.

Describing the executive secretary of TETFund, Arc. Sonny Echono as a performer extraordinarie, Kaita expressed hope that Echono would replicate the same vision and mission of transforming the education sector while he was serving as the permanent secretary of the ministry in TETFund.

He maintained that education and health are two critical sectors that drive development hence the need for an upward review from 2.5percent education tax to three per cent.

Also, while expressing his satisfaction over the reforms and excellent performance of TETFund for the year under review, the chairman of the committee used the opportunity to appeal to the fund to incorporate the Mathematical Centre in its interventions, saying that no country could thrive in the area of, research, science, technology, and innovation without embracing mathematics.

Kaita also urged TETFund to expedite efforts on providing an oxygen generator requested by Kaduna State Polytechnic during COVID- 19 in 2020.

Also, Senator Chukwuka Utazi, a member of the committee, commended Echono for the robust interventions carried out so far, and called on intellectuals to provide a home answer to the COVID-19 response.

Speaking earlier, Echono appreciated the committee for its usual support, saying that the harmonous working relationship between the National Assembly and Education Sector, was highly responsible for achievements recorded in the sector for the past seven years.

The executive secretary explained that TETFund engages in establishing, revitalising and support of benefiting tertiary institutions which are classified as Universities, Polytechnics and Colleges of Education in the area of infrastructure, training and development of academic staff, and promoting research and innovation.

He said in 2021, TETFund disbursed N213bn to tertiary institutions. This, according to him, included the take-off grants for the establishment of new institutions.

” When the federal government is establishing new institutions, TETFund is requested to disburse take-off grants for the establishment, and 60 per cent of this disbursement goes to the universities,” he said.

While highlighting major reforms in the Fund, Echono said TETFund had the highest level of disbursement in the last seven years, adding that through the 2.5 per cent tax received, the Fund has trained over 35000 academic staff both home and abroad with the plan to expand the number.

He said the Fund has established the Centre for Excellence in 24 institutions as a way of making them relevant to society and solving a societal problems.

Other programmes of action included promoting the employability of graduates, and empowering tertiary institutions on ICT where each campus will have a library or designated space for 24 hours internet services so students could access online sources among others.

He disclosed that TETFund is embarking on completion of all the abandoned projects in the Nigerian tertiary institutions by next year, a comprehensive list of the projects and institutions has been compiled with the view of completing them in phases.

On the incorporation of the Mathematical Centre in the TETFund’s intervention funds, the executive secretary said the current enabling of the Fund only allows it to focus on Universities, Polytechnics and Colleges of Education.

He, however, said the Fund is collaborating with the Mathematical Centre and the three other inter- University Centres in areas like research.

He also announced that through the intervention of the Fund, Nigeria overcame the usual long wait of collecting COVID-19 samples and getting the result.

Echono disclosed that TETFund, apart from funding research in COVID-19, is also funding research in Lassa- Fever and communicable diseases.

In his words, “In our research, we are funding research not only in COVID-19 but in Lassa-Fever.

Also on research, the ES informed Senate Committee that the COVID-19 vaccine project sponsored by the Fund would be ready for the first clinical trial in November this year.

While promising to do more with the continued support of the senate committee, Echono said TETFund has over 200 projects to commission soon.