President Bola Ahmed Tinubu, on Friday announced the cancellation of the automatic deduction of 40% from the internally generated revenues of federal universities.
He noted that the policy implementation is ill-timed.
Tinubu, who was represented by the Minister of Education, Tahir Mamman, made the announcement at the 75th Founder’s Day celebration of the University of Ibadan, (UI) on Friday.
“Mr Tinubu pledged his commitment to the reform of the nation’s education sector as the bedrock for national development.
“The 40% IGR automatic deduction policy stands cancelled. This is not the best time for such policy since our universities are struggling.”
