TETFund Tax Collection Hits Record High

Tertiary Education Trust Fund, (TETFund) has disclosed that its 2023 collection of education tax is the highest in a single year since inception.

The executive secretary of TETFund, Arc. Sunny Echono, who disclosed this, yesterday, appreciated the Federal Inland Revenue Service (FIRS), for its diligent efforts in collecting the education taxes.

Echono spoke in Abuja at an interactive session with heads of beneficiary institutions on the disbursement guidelines for 2024 intervention cycle, where he noted that the 2023 collection is being allocated by the fund for the 2024 intervention projects.

The TETFund boss also attributed the high revenue to increases approved by the former and present administrations to 3 percent of accessible profit and other factors diligently implemented by the FIRS in collaboration with the TETFund.

On the proposed areas of focus under the 2024 intervention programme, he said TETFund has budgeted a significant increase in annual direct disbursements in response to improvement in tax collections.