FGN REVERSES 40% IGR — PETER OBI REACTS

Peter Obi emphasized the satisfaction in the Federal Government's reversal of its request for a 40% IGR share from universities. 

He finds it initially inconceivable for underfunded universities to allocate such a significant portion.

Additionally, he highlights the overlooked misuse of TetFund, urging the government to reorganize and enhance its effectiveness in supporting public universities. 

Obi stresses the need for the government to prioritize the financial autonomy of public universities while meeting its statutory obligations to tertiary education.

"It is gratifying that the FGN has reversed its demand on the 40% IGR from universities. It is ab initio totally inconceivable that grossly underfunded universities would be expected to dole out 40% of their IGR to the FGN.

Moreover, that demand underlines a lack of attention to the persistent abuse of the TetFund, which is presently not being properly utilised to fund tertiary education as initially envisaged.

In fact, FGN should promptly reorganise and revamp TetFund, to fulfil its statutory role of funding Nigerian public universities both Federal and State owned, and also in assisting those owned by voluntary agencies.

The time has come for the government to pay more attention to the financial autonomy of our public universities while fulfilling its statutory financial responsibility to our public tertiary education."