FG Reverses 40% IGR Deduction from Tertiary Institutions Amidst Backlash

The Federal Government has reversed its decision to automatically deduct 40% from the Internally Generated Revenue (IGR) of tertiary institutions.

President Bola Ahmed Tinubu announced the cancellation of the policy at the 75th Founder’s Day ceremony of the University of Ibadan.

Tinubu, represented by the Minister of Education, Tahir Mamman, referred to the policy as ill-timed and declared that the 40% IGR automatic deduction policy stands cancelled.

Last week, a leaked memo revealed the government’s plan to implement the deduction from the IGR of federal universities and other partially funded institutions.

The policy faced significant backlash, with stakeholders expressing concerns about its negative impact on the struggling education sector.

Academic Staff Union of Universities (ASUU) and Colleges of Education Academic Staff Union (COEASU) issued statements condemning the directive, while the Committee of Vice Chancellors of Nigerian Universities also protested against the plan.

The reversal by the government is seen as a response to the widespread criticism and opposition from various quarters.

Source: Daily Post Newspaper