Tinubu cancels 40% IGR deduction from universities

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President Bola Tinubu has announced the cancellation of the automatic deduction of 40 per cent from the internally generated revenues of federal universities.

He says the policy implementation is ill-timed.

 

 

President Bola Ahmed Tinubu

 

Mr Tinubu spoke on Friday(today) at an ongoing 75th Founder’s Day ceremony of the University of Ibadan (UI). He was represented by the Minister of Education, Tahir Mamman.

 

In his speech as the Visitor to the university, Mr Tinubu pledged his commitment to the reform of the nation’s education sector as the bedrock for national development.

 

Tinubu said: “The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such policy since our universities are struggling.

 

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