The Tertiary Education Trust Fund, (TETFUND) says it has collected Education Tax to the tune of a total of 1.5 trillion Naira so far in the year 2024. The Executive Secretary of the Fund, Arc Sonny Echono who made the disclosure at the 2024 TETFund Stakeholders Engagement in Abuja, attributed the feat to the authorization provided by President Bola Tinubu.

Addressing Stakeholders in the Country's Tertiary Institutions, including Vice Chancellors, Head of Institutions and Unions, the Executive Secretary of TETFund, Arc. Sonny Echono, said the increase last year, in the Education Tax from 2.5% to 3% - authorized by the Commander-in-Chief, President Bola Ahmed Tinubu, represents a significant stride for TETFund.

This change, he said culminated with a record-breaking Education Tax collection of approximately 1.5 trillion Naira so far this year, reinforces the government’s dedication to strengthening Nigeria’s educational framework.

On his part, the Chairman Board of Trustee of TETFund, Board of Trustees, Aminu Bello Masari, emphasized the need to device means of funding education in a sustainable way adding that ETFund currently is the sole financier of education in Nigeria.

Mandarin decried the interplay between politics and education in Nigeria noting that, it has become necessary to move partisan politics off the calendar of Education in Nigeria. Other Stakeholders in their remarks lauded the TETFund intervention in the country's Tertiary Institutions noting that, this has in no small measure advance the course of Education in Nigeria.

They therefore called for more sustainable way of funding education in the country noting that beneficiary institutions must also be accountable and make the best out the TETFund intervention. Stakeholders stressed the need for sustainable and proactive approach to funding of Education in Nigeria.