Pastor Akinosun urges Federal Government to extend TETFund to private universities

The President, CAC Worldwide, Pastor Abraham Akinosun

By 'Gbenga Bankole

The President of Christ Apostolic Church, Worldwide Pastor Abraham Akinosun has urged the Federal Government to extend Tertiary Education Trust Fund (TETFund) to private universities.

TETFund was established as an intervention agency under the TETFund ACT - Tertiary Education Trust Fund (Establishment, etc) Act, 2011; charged with the responsibility for managing, disbursing and monitoring the education tax to public tertiary institutions in Nigeria.

Pastor Akinosun believes extending TETFund to private universities is the most reasonable thing to do because the tax education which forms the bulk of TETFund comes from the private sector exclusively.

The President who noted this while delivering his welcome address during the private visit of the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo to the General Secretariat of CAC Worldwide in Ibadan on Friday June 8, 2018 said the public and private universities are producing graduates for both the public and private sectors.

He added that the skills they acquired in the universities are available to both public and private sectors.

"When it comes to taking money for tertiary education, only the private sector is affected, but when the money taken from the private sector is disbursed, only the public universities benefit. Yet the tax that finances TETFund is from the private sector, no public institution contributes to it. It is like robbing Peter to pay Paul."

"The private sector finances public universities through TETFund, yet the private universities cannot access funds from it. This is not fair. I therefore, urge our education administrators to look into this issue with a view to correcting it," Pastor Akinosun stated.
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