Educationist Asks FG To Tax Rich Nigerians For Funding Of Universities, Other Tertiary Institutions - EDU-BIZNEWS


Tuesday, April 5, 2022

Educationist Asks FG To Tax Rich Nigerians For Funding Of Universities, Other Tertiary Institutions

An Educationist and proprietor of Yewa Central College of Education, Abeokuta, Prof. David Olufemi Bamgbose has asked the Federal Government to initiate a bill to compel Rich Nigerians to contribute to the development of education by way of payment of taxes, so as to assist in funding of public universities, polytechnics and Colleges of Education, as part of measures to find a lasting solution to the serious issue of funding bedevilling tertiary Institutions in the country

Both the Academic Staff Union of Universities ASUU and the Joint Action Committee of Senior Staff Union of Nigerian Universities SSANU and Non-Academic Staff Union of Allied and Educational Institutions NASU in public university system are currently on strike over their unresolved issues with the Federal Government including revatilization fund running into billions of naira, expected to be injected into the system to meet up with the financial needs of the affected Institutions

Bamgbose who made the call on Tuesday while featuring on a private radio programme monitored by Edu-Biznews in Abeokuta, the Ogun State Capital, said the bill would provide legal framework for tasking the rich Nigerians to contribute certain percentage of their income annually to the education sector just like Corporate organizations are doing through Tertiary Education Trust Fund TETFUND in complimenting efforts of government with funding of various capital projects in public tertiary Institutions across the country

According to him, government lack the needed financial strength to adequately fund public universities and other tertiary Institutions

"I don't think the Federal Government of Nigeria has the capacity to meet the demands of the tertiary Institutions, the entire annual budget size of Nigeria put at $35billion, not up to a quarter of the budget of the University of California in the United States"

He added that such contributions from wealthy individuals and other innovations by management of tertiary Institutions including commercialization of researches, introduction of business ventures and other professional services to public would assist in generating the required funding for tertiary Institutions and put a stop to frequent strike by academic and non-academic staff in public universities, polytechnics and Colleges of Education in the country

Bamgbose who is seeking to contest for the governorship ticket of the People's Democratic Party PDP in the 2023 poll,how cautioned Federal Government against establishment of more public tertiary Institutions, saying more  attention should be given to the funding and digitalization of existing ones in terms  of academic programmes and other activities to provide more opportunities for prospective candidates seeking admission 

The former governorship candidate of the All Progressives Grand Alliance APGA in 2019, appealed to the striking workers , particularly member of ASUU not to see strike as the best option to compel government in meeting their respective demands, saying they should be more concerned about developing human capital for the country

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