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Vice Chancellors Reject 40% Universities IGR Deduction

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Vice Chancellors Reject 40% Universities IGR Deduction

By Alabidun Shuaib AbdulRahman

The Committee of Vice-Chancellors of Nigerian Universities has lodged a formal protest with the Federal Government, urging a reversal of the proposed 40% deduction from the Internally Generated Revenues (IGR) of federal universities.

Prof. Yakubu Ochefu, the Secretary-General of the Committee, said over the weekend that such a deduction is unjustifiable in the absence of granted autonomy to universities.

Recall that the Federal Government, in a letter dated October 17, 2023, titled ‘Implementation of 40% automatic deduction from internally generated revenue of partially funded federal government institutions,’ announced the commencement of the deduction from November 2023.

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The letter, signed by the Accountant-General of the Federation, Mrs. Oluwatoyin Madein, referenced the Finance Circular of December 20, 2021.

Prof. Ochefu emphasized that the Finance Act of 2020 specifies deductions from surplus, questioning the government’s definition of surplus and expressing concerns over the potential impact on parents.

He warned that if the government persists, universities may be compelled to pass the 40% deduction on to end users, who are already expressing dissatisfaction with existing charges.

In his reactions, the National President of the Academic Staff Union of Universities, ASUU, Prof. Emmanuel Osodeke, echoed these sentiments, emphasizing that universities, facing funding challenges, should not be treated as revenue centers.

He emphasized the financial strain on parents and the incongruity of seeking additional revenue from universities that are inadequately funded.

 

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