The pioneer Vice-Chancellor of Wesley University of Science and Technology, Ondo, Prof. Tola Badejo, has called for the inclusion of privately owned higher institutions in the disbursement of the Tertiary Education Trust Fund (TETFund).
The renowned professor of zoology made this statement on Tuesday, November 26, 2024, while delivering a convocation lecture titled “Prospects and Challenges of Faith-Based Universities in Nigeria: A Case Study of Ajayi Crowther University” during the 16th convocation ceremony of Ajayi Crowther University in Oyo.
Prof. Badejo, who was also a former Vice-Chancellor of Eastern Palm University (now known as Kingsley Ozumba Mbadiwe University located in Ideato, Imo State), described the exclusion of private universities from TETFund as discriminatory, likening the practice to “nothing but robbing Peter to pay Paul.”
He argued that since the funds are generated from the private sector, institutions in this sector, such as private universities, should also benefit from them.
Initially known as the Education Trust Fund (ETF), TETFund was established under Act No. 7 of 1993 and later amended by Act No. 40 of 1999, with the sole aim of improving the quality of education in Nigeria.
TETFund derives its funding from a 2% education tax imposed on all registered companies in the country.
While acknowledging that TETFund (formerly ETF) was established before the emergence of private universities in Nigeria, Prof. Badejo noted that the original mandate of ETF “did not exclude private universities, yet the operators excluded them.”
The mandates of TETFund include delivering appropriate and adequate intervention programs with due regard to the needs of beneficiaries and stakeholders, as well as managing education tax in a way that is most beneficial to the Nigerian people.
Prof. Badejo, in his 44-page lecture, revealed that several efforts by the Committee of Vice-Chancellors and Registrars of Private Universities (CVSRPU) to persuade the federal government to include private universities as beneficiaries have so far been unsuccessful.
He emphasized the significant contributions of private institutions to Nigeria’s economy and urged the CVSRPU to re-strategize.
He suggested lobbying lawmakers to ensure private universities are included, in line with the original vision of ETF, which is “to be a world-class public sector interventionist agency in the education sector in Nigeria.”
Highlighting the achievements and contributions of private universities to human development and the nation’s economy, Prof. Badejo remarked, “If the argument of raising the standard of education in the country is sustained in favor of the establishment of private universities, then it can easily be seen that private varsities not benefiting from TETFund is a misnomer.”
He also identified the challenges facing private universities and proposed solutions to enhance their performance and impact.
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