TETFUND AMENDMENT ACT 2018; Sen. Monsurat Olajumoke Sunmonu.
The backbone of any tertiary education is funding, and not only funding but proper and timely funding to build and develop human capital development and advancement of a country.
In achieving that proper and timely funding of education in Nigeria, TETFUND (Tertiary Education Trust Fund) was established in 2011 by an Act of the National Assembly, which was then later replaced the Education Tax Fund (ETF) Act Cap 2004, and no doubt the establishment has been applauding and yielding a very good and positive results in a bid to repositioned education sector in the country.
The fund for this establishment is been generated through 2% education tax paid from the assessable profit of companies registered in Nigeria and it is been collected by the Federal Government of Nigeria, through Federal Inland Revenue Service (FIRS).
Then, Sen. Monsurat Olajumoke Sunmonu (Oyo Central Senatorial District), since her emergence in that red chamber, the Senate Arm of the National Assembly has been investing her effort in sponsoring bills and motions that are beneficial to the entire citizenry of the country. And on Thursday 22nd of March, 2018 had her new bill: TETFUND AMENDMENT ACT 2018 pass through the first reading; and the bill with the cap TERTIARY EDUCATION TRUST FUND ACT (AMENDMENT) BILL 2018 (SB. 644), designed to give access to better/more grants in Federal Government tertiary institutions, thereby encouraging Nigerians to study courses and gain the skills needed to thrive in focus sectors of the economy.
Of course, this bill will in no doubt help Nigeria in achieving the quality education as projected in the Sustainable Development Goals of the United Nations. The bill will also benefits the general populace, as it will increase the educational rates and, aid the country in achieving education for all policy.
It will as well give chances to some out of school youths, and less-privileged families to have a break through economically.
Sen. Monsurat Olajumoke Sunmonu, is the Senator representing the good people of Oyo Central Senatorial District, and have been investing in bills that are beneficial to all and country at large. This makes her call for improve in our tertiary education through TETFUND AMENDMENT ACT 2018.
And after passing through necessary stages; the TETFUND AMENDMENT ACT, and passed into law by the legislative and executive body respectively will examine the pro and con of the education in the country.
It should then be noted finally that, education is a priority and necessity, and no alternative to it.
Akintunde Yusuf Akinloye
Serving Corp Member