ASUU Asks Tinubu To Fund Students Education Loan With VAT
ASUU President, Prof. Emmanuel Osedeke, advises President Tinubu to fund the Nigerian Education Loan Fund (NELFUND) through Value Added Tax (VAT) while preserving the 1992/93 Education Act.
The President of the Academic Staff Union of Universities, ASUU, Prof Emmanuel Osedeke has askee President Bola Tinubu to device alternative means of funding the Nigerian Education Loan Fund, NELFUND, through the Value Added Tax, VAT.
Osedeke spoke during an interview with the Channels television on Thursday, and urging the government to consider maximising the VAT as a means of funding NELFUND, while allowing the Education Act of 1992/93 to stay.
His words, "Let that Act that was initiated in 1992/93, that has transformed all Nigerian universities allow it to stay.
“Go and look for ways. If you want to fund NELFUND,go and look for ways to fund it , don't go and take from the one that has already been there to fund it.
“And like I said, when Ghana came to Nigeria and looked at what we were doing,they went back and said, we won't take it from tax, let's take it from VAT.
"VAT is for all Nigerians,State, federal and local government,let federal government say, we want to fund NELFUND from VAT, let them take one or percent from VAT and use it to fund NELFUND, that way everybody would have contributed , state, federal, local.
“If you take one or two percent of VAT that you see today to fund NELFUND, you would have solved that problem.”
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