IMF Policies Could Harm Education, ASUU Warns Tinubu

The Academic Staff Union of Universities (ASUU), Ibadan Zone, has called on President Bola Tinubu to safeguard Nigeria’s educational sector from the negative impacts of International Monetary Fund (IMF) policies, urging him to reconsider a proposal that could significantly affect public education funding.

In a press briefing held yesterday, ASUU expressed concerns over the proposed dissolution of the Tertiary Education Trust Fund (TETFund) and its replacement with the newly suggested National Education and Learning Fund (NELFUND) under the 2024 Public Benefit and Taxation Bill (PBTB). According to the union, the restructuring of TETFund poses significant risks to the future of public education in Nigeria.

Professor Oyegoke Oyebamiji, ASUU’s Zonal Coordinator, stressed the pivotal role TETFund has played in improving the infrastructure of Nigeria’s tertiary institutions. He described TETFund as a crucial initiative that has supported academic excellence, advanced research, and upgraded the facilities in universities, including laboratories and libraries.

“TETFund, which was born from our advocacy, has been instrumental in fostering academic progress across Nigerian universities. Replacing it with NELFUND would be a grave mistake,” Oyebamiji warned.

The union also criticized the federal government’s budgetary allocation to education, noting that the current 7% funding for the sector falls far below the 15% commitment made during the government’s campaign and the 20% threshold recommended by UNESCO. ASUU called on the government to honor its pledges and prioritize education as a critical pillar for the country’s future.