Education Tax To Increase To 3 Percent – TETFUND

The Executive Secretary of Tertiary Education Trust Fund , Arc Sonny Echono has expressed optimism that  Education Tax would likely increase to 3 percent as the government grows it’s investment in the education sector.

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

The TETFUND Boss said this in Abuja when the Governor of Plateau State, Simon Lalong paid him a courtesy visit at the Fund’s Headquarters.

The Executive Secretary further called on Tertiary Institutions in Nigeria to produce entrepreneurs and not just graduates.

According to him, investments in creating entrepreneurs would go a long way to curbing the menace of unemployment and consequently tackle the socio-economic problems prevalent in the country.

Echono added that one of his primary goals is to make Tertiary Institutions a place to produce entrepreneurs noting that with the support of the federal government, TETFUND plans to reinforce the huge investments in the new Universities to fast track their rate of progress with a view to achieving the purpose of establishing them.

He restated that the present administration of President Muhammadu Buhari has given full support to education adding that this is evident in the recent Presidential approval of upward review of Education Tax from 2 percent to 2.5 percent, which will enable TETFUND cope with increasing demands.

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.

Earlier in his remark, Governor Simon Lalong lauded the fund for the numerous iconic projects dotting the tertiary institutions in plateau State, saying TETFUND has become a lifeline for the schools.

Assuring Echono of his support in discharging his duties, Governor Lalong said as the Chairman of the Northern Governors Forum , he would make sure the Executive Secretary get the support of other northern governor’s.