ASUU and VCs fault Federal Government’s demand for varsities 40% IGR
Written by News Desk on November 8, 2023
The Academic Staff Union of Universities and the Committee of Vice Chancellors of Nigerian Universities have described the plan by the Federal Government to automatically deduct 40 per cent from the Internally Generated Revenue of universities in the country as an attack on the university system.
The Federal Government, in a letter dated October 17, 2023, and says it would begin the deduction with effect from November 2023.
The letter signed by the Accountant-General of the Federation, Mrs. Oluwatoyin Madein, Director of Revenue and Investment, Office of the Accountant-General of the Federation, Felix Ore-ofe Ogundairo, also says the auto-deduction policy of gross IGR was in line with the Finance Circular dated December 20, 2021.
However, the National President, ASUU, Prof. Emmanuel Osodeke, insisted that Federal Government’s decision was disheartening, saying universities were not generating any revenue from the user chargers/service fees they gave students.