BREAKING: This Is Not The Best Time For Such A Policy – Amid Economic Hardship Orchestrated By Removal Of Fuel Subsidy, Tinubu Cancels Policy

BREAKING: This Is Not The Best Time For Such A Policy – Amid Economic Hardship Orchestrated By Removal Of Fuel Subsidy, Tinubu Cancels Policy

President Bola Tinubu has announced the reversal of the automatic deduction of 40 percent from federal universities’ Internally Generated Revenue (IGR).

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The Minister of Education, Tahir Mamman, delivered the president’s decision during his speech at the 75th Founder’s Day ceremony of the University of Ibadan (UI) on Friday, November 17.

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The initial plan, communicated by the Ministry of Finance in October, generated widespread reactions, particularly from the Academic Staff Union of Universities (ASUU) and other stakeholders.

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ASUU argued that universities are not revenue-generating entities, emphasizing that student fees are meant to provide essential tools for quality education.

The Committee of Vice-Chancellors of Nigerian Universities also protested, urging the government to reconsider the plan, citing the need for university autonomy.

In response to the concerns raised, President Tinubu acknowledged that the timing of the policy implementation is inappropriate.

He said: “The 40 percent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”