President Bola Tinubu has cancelled the contentious deduction of 40% from the Internally Generated Revenues of federal universities nationwide.
Represented by Education Minister Tahir Mamman at the University of Ibadan’s 75th Founder’s Day ceremony on Friday, the President characterized the policy implementation as “ill-timed.”
He asserted that the current struggles faced by our universities made it an unfavorable period for such a policy. As the university’s Visitor, Tinubu pledged his dedication to reforming the nation’s education sector, emphasizing its crucial role as the foundation for national development.
He said, “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.”
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