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TETFund Gets N1.7tn Education Tax in Nine Years- Report

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The Tertiary Education Trust Fund, a Federal Government intervention agency, received a total of N1.702 trillion in education tax in nine years.

The figure, which covers between 2011 and 2019, was contained in a report prepared by the Fund and obtained by news correspondent in Abuja on Wednesday.

The agency was reportedly established following the deteriorating educational infrastructure and falling standard of education in the 1980s and early 1990s which led to agitations for reforms in the education sector.

In response to the agitations which primarily came from the Academic Staff Union of Universities, the Education Tax Fund was established in 1993 under Act No 7 as amended by Act No 40 of the 1998 as a trust fund and the 2011 TETFund Establishment Act, with the objective of using project management to improve the quality of education in Nigeria.

The main source of income available to the Fund is the two per cent education tax paid from the assessable profit of companies registered in Nigeria.

The Fund administers the tax imposed by the TETFund Act and disburses the amount to tertiary educational institutions at the federal and state levels. It also monitors the projects executed with the funds allocated to the beneficiaries.

Commenting on the report, the agency noted that, “As of 2019, a total of 223 public tertiary institutions benefited from TETFund intervention; Universities-87; Polytechnics-65 and Colleges of education -71.”

Analysis of the taxes received during the period revealed that in 2011, N128.5bn was generated as education tax; N188.37 bn in 2012; and in 2013, the fund noted an increase in tax generated when it received N279.17 bn.

In 2014, there was a decrease in tax generated when N 189.61 bn was received.

In 2015, the Fund generated N207.43 bn worth of education tax; in 2016, there was a decrease when N130.12 bn was generated; and in 2017, it was N154.96 bn.

The Fund noted a slight increase in 2018 when N203.28 bn was generated; and  N221.30 bn was generated in 2019.

Commenting on the development, the National President of the Academic Staff Union of Polytechnics, Dr Anderson Ezeibe, said, TETFund, an intervention agency, was not designed to be the main source of funding for tertiary education in the country.

He said, “The amount stated in the report covered a period of nine years and is therefore expected to have been deployed to satisfy key intervention areas like infrastructure, academic staff development, conference attendance etc. It is also expected to have been deployed to service critical committees like National Research Fund etc. as well as administrative issues.

“In all, it is difficult not to commend TETFund thus far as the agency has remained the most significant source of infrastructural development and academic staff development in tertiary institutions in the country.

“State governments and even the Federal Government have not and are not doing enough in terms of their fiscal responsibilities to these institutions.

“State-owned institutions are also beneficiaries of TETFund intervention grants. It is expected that state governments should be able to live up to their responsibilities to these institutions as proprietors and not abandon their institutions.”

Similarly, the chairperson of the Academic Staff Union of Universities, Federal University of Technology, Minna, Dr Gbolahan Bolarin, said, thing can be better at TETFUND with more sincerity.

Bolarin said, “The practice of kickbacks and what have you is zapping so much of the money. That is the reason the quality of projects under TETFund is nothing when compared to NEEDS assessment projects.

“Regarding state universities, it would be better if states can come up with additional streams of funds to support what they might be getting from TETFund. Anyway, it is all about political will to do what is right by the people.”

Oil Producing State Status: Anambra State Receives N268.2 Million Revenue

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Anambra State government has confirmed that it received N268.2 million revenue in its new status as an oil producing South-East state.

The amount was from the mineral derivation revenue from the Federation Account for the month of July 2022 totalling N268,232,939.16.

The state Commissioner for Finance, Ifeatu Onejeme, who confirmed the development said the feat was finally achieved sequel to Professor Chukwuma Soludo’s “massive follow up and collaborative initiatives with relevant federal government agencies.

Anambra State was recognized as an oil producing state during the administration of former Governor Willie Obiano.

Apparently reacting to social media reports that the state received over N300bn from the federal government as its share of 13% oil derivation, the Commissioner insisted that what the state received was N268,232,939.16.

Onejeme said: “The attention of Anambra State government has been drawn to several false and misleading stories circulating on some social and online media platforms about the 13% Oil Mineral Derivation Revenue received by Anambra State.

“This press release is deemed necessary in the public interest, in the spirit of full disclosure and in line with our principle of transparency, to address the deliberate misinformation and provide Ndi Anambra and the general public with the correct state of affairs.

“The proviso to S.162(2) of the 1999 Constitution (as amended) of the Federal Republic of Nigeria provides that the principle of derivation shall be constantly reflected in any approved formula determined by the national assembly for revenue allocation from the Federation Account and such derivation shall not be less than thirteen per cent of the revenue accruing to the Federation directly from any natural resources.

“Following a decade of hard work by industry experts from Anambra State in collaboration with past administrations, Anambra State was officially recogniszd as a petroleum-bearing and oil-producing state on July 27, 2021 by the Revenue Mobilization Allocation and Fiscal Commission at its 139th Plenary Session held on that date.

“The current administration of Prof Charles Chukwuma Soludo took up the mantle from there with massive follow up and collaborative initiatives with relevant federal government agencies to achieve the eventual implementation of the decision.

“Anambra State officially started receiving mineral derivation revenue from the Federation Account in the month of July 2022 with the first net receipt of N268,232,939.16 (Two Hundred and Sixty-Eight Million, Two Hundred and Thirty-Two Thousand Nine Hundred and Thirty-Nine Naira and Sixteen Kobo only).

“Ndi Anambra and the general public are therefore enjoined to disregard any other information about the amount of mineral derivation revenue received by Anambra State circulating in the social media.”

NNPC Renews Five Oil Bloc Licenses, To Generate $500bn In Revenue

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The Nigerian National Petroleum Company (NNPC) Limited has signed a contract extension with its partners for five major oil blocs with hopes of boosting Nigeria’s economy with $500 billion in revenue.

According to the NNPC limited, the development is a major step toward boosting Nigeria’s crude production and “unlocking investments in the deepwater space post-Petroleum Industry Act (PIA) enactment and its Production Sharing Contracts (PSCs) Contractors have resolved their disputes and signed renewed PSCs”.

“During a signing ceremony held today in Abuja, the parties renewed their agreements in five Oil Mining Leases (OMLs 128, 130,132, 133, and 138), a development that is expected to unlock over $500 billion in revenue for the country,” NNPC limited said on its official Twitter handle on Friday.

Some of the PSC partners of the NNPC Limited are Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration. and Production Nigeria Limited (EEPNL), and Nigerian Agip Exploration (NAE).

Also, ExxonMobil took to Twitter to announce the renewal of its OMLs 133 (Erha) and 138 (Usan) deepwater leases for a further 20–year period.

“These renewals validate earlier commitment to maintaining a significant deepwater presence in Nigeria, via Esso Exploration and Production Nigeria (Deepwater) Limited,” the oil major tweeted.

According to ExxonMobil, these are among the first post-Petroleum Industry Act deepwater lease renewals.

It said: “We applaud the Ministry of Petroleum Resources, for providing the focused leadership and partnership that has led to this achievement.

“Further, these extensions enable us and our partners to unlock the potential value in these OMLs and to bring forward additional investment.”

The federal government had in a bid to overcome the funding challenges in the oil and gas sector as well as enhance the country’s oil reserve and improve the economy of the country, introduced the Production Sharing Contract as a policy for the exploration of the country’s petroleum resources.

This policy is mainly regulated by the Deep Offshore and Inland Basin Production Sharing Contract Act, Laws of the Federation of Nigeria 2004.

Under this policy, the NNPC engages a competent contractor (Petroleum Exploration and Production Companies or its Subsidiary) to carry out petroleum exploration in Nigeria.

Europe Gas Delivery: Nigeria’s Trans-Saharan Gas Pipeline Now Active

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Nigeria is ramping up efforts to finish the construction of a pipeline that will help deliver its gas to Europe.

The country’s Trans-Saharan gas pipeline is now active after decades, as the country looks to capitalise on European nations reducing their reliance on energy from Russia.

The country has reserves of 5.8 trillion cubic metres of gas and is looking to triple that amount in 8 years.

It’s also trying to triple its reserves as prices and demand for gas surge due to the conflict in Ukraine.

Pres. Buhari Again urges ASUU To Call Off 6-Month- Old Strike

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President Muhammadu Buhari has again appealed to the Academic Staff Union of Universities (ASUU) to call off the ongoing strike.

Buhari made the call on Friday in Maiduguri at the maiden Special Convocation Ceremony and conferment of Honourary Degree of Doctor of Letters by the University of Maiduguri on Muhammadu Indimi, Chairman, Oriental Energy Resources Ltd.

The president who was represented by his Chief of Staff, Ibrahim Gambari said, “Its more appropriate that we say something about this ASUU strike because we are celebrating Indimi who is celebrated hugely for advancement of quality education not only in this country.

“In this regard, I want to convey President Muhammadu Buhari call for ASUU to call off thier strike and return to classroom”.

The president said negotiations had gone far, and for ASUU to continue the strike under such condition was counter productive.

According to him, such prolong interruption of education is undermining the nation’s development of human capital.

The Vice Chancellor of the university, Prof. Aliyu Shugaba said the maiden special convocation was to give honour to Indimi for his contribution to educational development at home and abroad.

He urged the Federal Government, ASUU and other unions in the university to resolve the lingering strike to save the education sector.

Also, former President Olusegun Obasanjo lauded the peaceful atmosphere in Maiduguri, adding that, “what I saw is contrary to the picture being painted outside”.

Obasanjo lauded the effort of Borno government and other stakeholders for the relative peace in the state and urged them to sustain the tempo.

He congratulated Indimi for the honour bestowed on him, describing him as “a self made man as shown by his struggled to greatness in life”.

For his part, Indimi expressed gratitude to God for the honour done to him and reiterated commitment to selfless service to humanity.

Prof. Saliba James, who read the citation of the celebrant, said that Indimi had distinguished himself in promoting educational development within and outside the shores of Nigeria.

“Indimi has been providing remarkable help to the vulnerable and downtrodden people in the society irrespective of where they come from.

“He has supported many indigent students in Borno, his home state and even in far away states like Akwa Ibom.
“It is on record that Dr. Indimi has provided vital education infrastructure in International University of Africa
(IUA), Sudan; in far away Lynn University, Florida, USA, and of course not forgetting to mention this multi-billion Naira magnificent edifice where we are right now seated and holding this Special Convocation today in this University.

“I believe that his best is yet to come”, James said.

Nigerian Conservation Foundation Calls for Sustainable Management of Environment  

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As part of efforts to address the challenges of climate change, the President of the Nigerian Conservation Foundation (NCF) Board of Trustees (BoT), Izoma Asiodu, has called for the sustainable management of nature amid the booming population and environmental challenges across the country so that posterity can enjoy a beautiful habitat.

Asiodu disclosed this recently at the 20th annual memorial lecture organised by the Nigerian Conservation Foundation (NCF) in honour of its founder, late Chief S. L. Edu.

He recalled how the NCF was founded as a result of the friendship between late Edu and the Prince of Netherlands, who was the chairman of  World Wide Fund for Nature (WWF1), which led him to establish something similar in Nigeria.

The NCF president expressed delight that NCF has been able to sustain the series of lecture in his honour while giving out doctoral research grants to distinguish scholars and future leaders in environmental conservation.

He said: “NCF is called the premier conservation organisation in Nigeria because before it, there was no existing organisation dedicated to wildlife and environmental management in the country.

“Numerous thought leaders and foremost professionals have graced the occasion to talk about issues like sustainable agriculture, desert encroachment, water conservation, faith in the environment, wildlife conservation, and reforestation.

This year’s theme: ‘Only One Earth’, typifies the need for all stakeholders to collaborate towards ensuring that we achieve the various environmental targets set towards climate change mitigation and adaptation.

“As a flagship advocacy tool for NCF, the annual lecture serves as a platform for public discourse on national and global environmental issues. “

UK: Seagrass Ocean Rescue Project Invites Communities To Get Involved

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The UK’s biggest seagrass restoration projects is to take place off the coast of Wales.

Five million seagrass seeds are to be planted off the Llŷn Peninsula in Gwynedd and Anglesey, with the aim of creating 10 hectares (25 acres) of seagrass meadow by the end of 2026.

The Seagrass Ocean Rescue project is inviting communities to get involved.

It said a single hectare of seagrass meadow could harbour up to 80,000 fish and 100 million invertebrates.

The Welsh government has recognised protecting and restoring seagrass meadows in Wales as a priority.

Its aims include showing the benefits that community-engaged conversation can bring and reconnect people with the sea and coast on their doorstep.

UK Drought: Fife Farmers Banned From Using River Eden

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Farmers have been banned from taking water from the River Eden in Fife after it fell to a “critical” level, the second-lowest ever recorded.

The Scottish Environment Protection Agency (SEPA) said the majority of water abstraction licences would be suspended from midnight on Saturday.

A significant scarcity warning was also issued for the River Tweed in the Borders – where a ban could follow.

The National Farmers Union said it was “devastating” for vegetable growers.

Sepa said the suspensions would be lifted as soon as possible.

David Harley, Sepa’s chief officer circular economy, said: “Having to impose suspensions on water abstractions underlines the severity of the conditions being experienced in the east of Scotland this summer.

“It is not a step we take lightly, but the evidence is clear, and it is one we can no longer avoid.”

Abstraction is the process of taking water from a river, loch or other natural source.

Sepa said the main stem of the River Eden had only been lower in 1989.

Flows in Kemback in Fife have not been as low for this long since 2003 and Strathmiglo is also experiencing its most prolonged low flow period on record.

Why Large Parts Of England Are Now In Drought

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Large parts of southern, central and eastern England have been declared drought areas.

The announcement was made by the National Drought Group, which said it was responding to the driest summer in 50 years.

It says “essential supplies of water are safe”, but water companies in the affected areas could now introduce further restrictions on water use.

Where the drought zones?

The Environment Agency (EA) says eight areas are now in drought:

It says that the West Midlands and Yorkshire are likely to be declared drought areas in the near future.

Map of existing and likely future drought areas in England

What is a drought?

A drought relates to a lack of water, but there are different types of drought.

The Royal Meteorological Society says a drought is not simply a lack of water for a specific time. For example, there can be agricultural droughts where there is not enough water to grow a crop.

The decision on whether to declare a drought in England is taken by the EA, which coordinates the response with water companies.

It says the drought announcement was based on data including rainfall, river flows, groundwater levels, reservoir levels, and the dryness of soils, as how that is affecting the public water supply, commercial water users such as farmers, and the environment.

The EA’s latest water situation report shows some river levels are at the lowest levels ever recorded.

Why are there droughts in Britain this year?

In the first three months of the year, England’s rainfall was down 26% and in Wales it was down 22%.

This meant that even before the summer started, that average river flows were “below normal” or “exceptionally low”.

Chart plotting the top ten hottest UK days on record since 1900

July saw temperature records broken multiple times and rainfall was down 76%.

These conditions have been made worse by the overconsumption of water. More than 28% of underground water sources are overused, the government says.

Drought is declared area by area, rather than for the country as a whole.

The EA says this does not automatically trigger water restrictions, but means it and the water companies will put into effect pre-arranged drought plans.

Nigerian Government Reiterates Commitment To Net-Zero Emission

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The Nigerian government says it will not relent in joining forces in the pursuit of a sustainable land use transition which is essential to meeting the Paris Agreement goals, including reducing vulnerability to the impacts of climate change.

The Minister of Environment, Mr Mohammed Abdullahi, stated this while highlighting some of the achievements of the Ministry at the 16th National Council on Environment meeting held in Abuja, the Nation’s capital.

Abdullahi stated that “there is need for urgent collective step-up action by everyone irrespective of social status, religion, political leaning for drastic restoration of the country’s natural ecosystem.’’

“Our ambitious efforts towards zero emission are on course. We are promoting and embarking on climate-positive and nature-positive investments to enhance adaptive capacity and build resilience of the ecosystems while improving the livelihoods of the local communities and indigenous people,” he explained.

The Minister further stressed that the government was also promoting and embarking on climate-positive and nature-positive investments to enhance adaptive capacity and build the resilience of the ecosystems while improving the livelihoods of the local communities and indigenous people.

He said; “We strongly believe in strengthening our shared efforts to conserve forests and other terrestrial ecosystems and accelerate their restoration, facilitate trade and development policies, internationally and domestically, that promote sustainable development, sustainable commodity production and consumption, reduce vulnerability, build resilience and enhance rural livelihoods, including through empowering communities.” 

The representative of Food and Agriculture Organization, Mr Abubakar Suleiman said; “the Organization is presently supporting the Federal Ministry of Environment in mobilizing resources from the global climate finance institutions.’’

He noted that FAO Nigeria would always give consideration to supporting special efforts being made by the Nigerian government to ensure more inclusive and more sustainable agri-food systems, for a better environment.

“The FAO Nigeria through its programs and projects has been able to support in strengthening capacities of government counterparts to better respond to climate change challenges including the ability to generate, collect, analyze and utilize data and information for climate action; better access to financial resources for climate change adaptation and mitigation; adoption of good practices and innovative solutions to climate resilience, adaptation and mitigation; mainstreaming of climate change considerations in national and subnational policies and strategies,” Mr. Suleiman said.

The National Program Officer UNIDO, Mr Osuji Otu said UNIDO would continue to provide technical support to Nigeria in achieving a net zero status through the promotion of clean technology and renewable energies like small hydropower, circular economy and waste management.

Mr. Otu stated; “We are presently implementing the Nigeria Country Programme which runs from 2018 to 2022 and environmental management is a standalone and important component of this Country Programme. Based on the request of the Nigerian President, the Country Programme will be converted into a Partnership for Country Programme by January 2023.”

The event had a lecture presentation by Professor, Emmanuel Oladipo, who also appeal to the Ministry to create or transform one of its agencies to become a National Institute for Environmental Research Studies.

This he said would enable it to train people and bring out expertise by using a lot of academics to add value to what the Ministry is doing.