Federal universities in Nigeria would no longer remit 40 per cent of their internally generated revenue, IGR, to the federal government, the Minister of Education, Tahir Mamman said on Friday.
Before the discontinuation of the policy, the remittance was set to commence this month.
But Mamman, while speaking at the 75th Founder’s Day ceremony of the University of Ibadan, UI, said the policy was ill-timed.
“The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling,” said the Minister.
The Education Minister added that he has communicated with the Ministry of Finance to suspend the implementation of the policy.
The Academic Staff Union of Universities, ASUU, had condemned the policy, saying it would “impoverish and emasculate the Nigeria university system.”
“For the avoidance of doubt, universities are not revenue generating agencies because the obligatory fees paid by students are to provide the necessary tools for them to be properly educated,” ASUU added.
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