FG approves review of education tax to 2.5 per cent

The Federal Government has given approval for an upward review of Education Tax from two per cent to 2.5 per cent.

Executive Secretary of Tertiary Education Trust Fund (TETFUND), Sonny Echono, said this at the weekend when he received Plateau Governor Simon Lalong at the headquarters of TETFUND in Abuja.

He said this would enable TETFUND to cope with the increasing demands on the agency.

He noted with the support of the Federal Government, TETFUND plans to reinforce the huge investments in the 13 new universities to fast track their rate of progress with a view to achieving the purpose of establishing them.

Echono expressed optimism that the education tax would likely increase to three per cent as the government harnesses educational investment.

This investment, Echono emphasised, would go into expanding the frontiers of education and the way education is structured in the country.

He said “the increased tax would facilitate the implementation of more developmental projects in the education sector.”

Echono called on tertiary institutions to produce entrepreneurs and not just graduates.

The executive secretary said this would help reduce unemployment and tackle the socio-economic problems prevalent in the country.

The TETFUND boss stated that one of his primary goals is to make tertiary institutions a place to produce entrepreneurs.

The executive secretary expressed appreciation at the show of support from Governor Lalong, while pledging continued commitment to the development of tertiary education in the state.

Governor Lalong lauded the agency for the numerous iconic projects dotting tertiary institutions in Plateau State, saying TETFUND has become a lifeline for the schools.

He sought the continuity of the good work by the Fund, expressing his appreciation for its contributions to the development of education in the state and the northern region at large.

The Governor expressed optimism that the newly appointed executive secretary, who he described as an educationist, with his track record as Permanent Secretary at the Federal Ministry of Education, would keep up the good work of his predecessor, Prof Suleiman Bogoro, who the Governor added made a lot of impact in the development of tertiary institutions across Nigeria.

Assuring Echono of his support in discharging his duties, Governor Lalong said as the Chairman of the Northern Governors Forum, he (Lalong) would make sure the Executive Secretary gets the support of other northern governors.  (Nation)