Former President of the Academic Staff Union of Universities, ASUU, Prof Emmanuel Osodeke, has raised the alarm over what he described as a systematic erosion of the Tertiary Education Trust Fund’s, TETFund, independence and resources, warning that the ongoing diversion of funds to other government initiatives could cripple Nigeria’s tertiary education system.
Speaking at a National Town Hall Meeting organized by TETFund in Abuja, on Wednesday, Osodeke cautioned that the latest fiscal arrangements, which channel all education tax collections into a common pool, have effectively reduced TETFund’s statutory allocation from 3 per cent to 2 per cent, thereby weakening the agency’s capacity to fund critical interventions.
“In each of our agreements, TETFund is supposed to stand on its own. But what we have done now has clear implications. Whether we like it or not, TETFund’s allocation has been reduced,” he declared.
The former ASUU president explained that unlike before, when funds were directly collected and disbursed monthly, the new arrangement routes TETFund’s revenues through a central pool, creating bureaucratic bottlenecks and uncertainty.
He recalled that a similar move during the Goodluck Jonathan administration led to prolonged delays of education funds.
“Back in 2013, when we negotiated the N200 billion need-assessment fund with the government, the money was drawn from TETFund collections, and it’s still being refunded in small amounts till today,” Osodeke lamented.
He accused some banks and big corporations of evading their TETFund obligations, noting that former President Jonathan had granted banks a 10-year waiver that has since expired, yet they continue to withhold payments.
“If those banks pay what they owe, TETFund would recover no less than N1 trillion,” he said, adding that some firms now lobby the Ministry of Finance for fresh waivers.
To restore transparency, Osodeke urged TETFund to publish monthly collections and the names of companies remitting or defaulting.
“Nigerians should know those who are not paying. Public accountability is the only way forward,” he insisted.
The former ASUU leader also decried the huge unutilized TETFund deposits, reportedly over N600 billion, lying idle at the Central Bank of Nigeria.
He said many universities and polytechnics have failed to execute approved projects for over a decade, calling for strict sanctions against erring vice-chancellors and pro-chancellors.
“Some universities have 10-year backlogs of unspent allocations and abandoned projects. These are public funds. The money given to universities 15 years ago as N1 billion is now worth about N100 billion. Yet, no one has been punished,” he said.
Osodeke further expressed concern that TETFund’s resources are now being siphoned into the Nigeria Education Loan Fund (NELFund), warning that such diversions violate the Fund’s original purpose as an intervention agency.
“TETFund is not a funding agency; it’s an intervention agency. But we are now turning it into the only funding source for universities, while starving it through multiple deductions,” he said.
He criticized the implementation of NELFUND, arguing that it is burdening students with debt rather than expanding access.
According to him, only about 482,000 students, less than 10 per cent of Nigeria’s tertiary population, have benefited, with loans totaling N98.8 billion.
“If a student borrows N4 million annually, he graduates owing N30 million to N40 million. How will he repay? Maybe he’ll commit suicide.
“That’s why I keep saying: if we’re serious, that money should go to the poorest of the poor as grants, not loans,” he warned.
He also called for a legal review to restrict TETFund access to universities that are at least five years old, to curb the proliferation of “constituency universities” established for political reasons.
“You sit in the National Assembly and create universities you can’t fund. Who will teach there when thousands of lecturers are leaving the country?” he asked.
Osodeke called on government officials and academics to protect the integrity of TETFund and host its official events within public universities, not private venues.
“We should be proud of our public system. If you must hold a TETFund event, let it be inside a university built by TETFund, not in private companies. Otherwise, we are wasting public money and betraying the very system we claim to strengthen,” he said.
