The Tertiary Education Trust Fund (TETFund) has sought the support of the National Assembly (NASS) towards meeting its target of three percent education tax collection before the expiration of President Muhammadu Buhari tenure in order to increase funding for public tertiary educational institutions in the country.
The executive secretary of TETFund, Arc. Sonny Echono stated this when members of the House of Representatives Committee on Tertiary Education and Services, led by Hon. Aminu Suleiman, paid him an oversight visit in his office in Abuja recently.
Recall that President Muhammadu Buhari recently approved an upward review of Education Tax from 2 per cent to 2.5 per cent to enable TETFund to cope with increasing demands.
On the occasion, Echono expressed optimism that the education tax would likely increase to 3 percent as the government continues to prioritise educational investment given Buhari’s commitment on increased funding for education, and the usual support of the National Assembly.
“The target is that before the end of this administration, it will increase to three per cent, which is a commitment that the President has already given to the Global Partnership for Education,” Echono said.
Echono further commended the level of support and cooperation the Fund has enjoyed from the committee and the National Assembly, while seeking its support in effecting the amendment of the education tax law.
“This is a major area that will be seeking the support of the National Assembly in terms of legislation.
“The other aspect is the fact that in contravention of this oversight, we also want to open our activities more to independent assessment and evaluation on our behalf.
“So we have designed a monitoring and evaluation template that will involve key stakeholders, like the National Assembly, even the staff unions in our tertiary institutions, to join us independently to look at some of the things that we’re doing,” he added.
Speaking on the operations of the Fund and the state of finances, especially from 2017 to date, Echono stated that last year’s collection, which is what the Fund used to operate this year, dropped to N189bn.
“We witnessed a steady rise in collections under the education tax but unfortunately, last year, for the 2021 there was a sharp drop and that left us in a very dire position.
“For example, as I said, from N154 billion in 2017, the tax collection rose steadily to N257 billion over the years.
“So by 2020, we’ve got N257 billion, but unfortunately, last year’s collection, which is what we used to operate this year, dropped sharply to N189 billion.
“So over N60 billion drop revenue or resources available to TETfund and the way we operate, 2021 collections are used for 2022 operations.”
Responding, Suleiman assured the Fund of its unflinching support and cooperation to ensure that the system continues to serve stronger and better.
He said the visit was part of legislative requirements on any legislatures through various committees that minimum of an oversight visit must be conducted and the periodic report submitted to the house through the culinary bureaus to discuss matters, particularly challenges that agencies and monitors of those agencies are facing.
The legislator also said Echono was a good choice to lead the agency given his wealth of experience.
During the visit, the committee expressed confidence that Echono will deliver well in his mandate as TETfund executive secretary.
“For the new task and assignment that the president and commander in chief have, on behalf of all Nigerians found in you by appointing almost immediately your service to the nation to continue to provide value services to our countries through this one of the most important creations by the Nigerian state to support education and educational matters.
“We hold the view that you possess what it takes to superintend this agency as what we know having had a very robust and close working relationship with you as the chief superintendent at that time of the entire ministry or the chief bureaucrat.
“We have no doubt in our mind that your experiences to be in the administration of these most important agents. Like your predecessors, we can assure you of our continued support and cooperation.
“This is not to you as a person or to any individual here but just an obligation on our part to ensure that we support our bureaucrats that are working daily to ensure that the system continues to work stronger in spite of the general problem the country is facing.”
The committee also congratulated Echono on his emergence as the TETFund boss, while assuring it support.
“We congratulate you and we assure you of our support, without prejudice to the fact that sometimes we can agree to disagree and I’m sure you are familiar with we have had quite several even when you are the Permanent Secretary to disagree entirely with the ministry, but not predicated on any personal motive but to share with you where I’m at with them differently from the way things are being done, and in most cases, we usually arrived at the same page.
“I have no doubt that our relationship will continue here. The essence is for us like I said to better the system. For direct reference to this engagement that is about to take place the faces are very familiar, very many of them.
“Therefore, I’m not showing you our difficulties, they are used to the system. Just about a year ago we were here last year, July to be precise and we have gone through similar exercise,” he added.
Suleiman further said most of the time oversight is misconstrued as being an exercise of witch hunting, saying that such misconception shouldn’t be brought into discussion.
“Like we all know, whenever you are not in the house, and issues are being discussed, we automatically assume the role of the representative of such agencies you will need to see how colleagues will have to stand to defend activities of one ministry or the other because at that time, if there are issues your ministry is being challenged, it is not the minister, it is not the permanent secretaries and with all due respect, not the chief executives or any directors that will stand to defend.
“These members will now assume that role to say yes, our agency is doing XY. We are convinced this can only be possible with this type of engagement and collaboration.”
He noted that the intent of the visit is for the committee to be better equipped, so that whenever questions are asked, we will be able to speak from a position of knowledge.
