During the ongoing 75th Founder’s Day ceremony at the University of Ibadan (UI), President Bola Tinubu announced the cancellation of the 40% automatic deductions from internally generated revenues (IGR) of federal universities.
According to Vanguard, the Minister of Education, Tahir Mamman, represented Tinubu at the event.
As the Visitor to the nation’s premier university, Tinubu emphasized his dedication to reforming the education sector as a crucial foundation for national development.
He stated, “The 40% IGR automatic deduction policy stands cancelled. This is not the best time for such a policy since our universities are struggling.”
Before Tinubu’s announcement, UI Chancellor and Sultan of Sokoto, Sa’adu Abubakar, criticized the policy, highlighting the numerous challenges facing universities. Abubakar urged authorities to revoke the decision, expressing concerns that the policy could imperil the university system.
