News
40% IGR policy: ‘It’s gratifying FG reversed itself’ – Peter Obi
The presidential candidate of the Labour Party (LP) in the February 25 presidential election, Mr Peter Obi, has commended the federal government for rescinding its decision on the remittance of 40 per cent of the Internally Generated Revenue (IGR) of universities.
Gatekeeper reported the Federal Government had finally bowed to pressure by suspending the automatic deduction of 40 per cent from the IGR of tertiary institutions.
President Bola Tinubu gave the reversal order on Friday while speaking at the 75th Founder’s Day ceremony at the University of Ibadan (UI).
“The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such policy since our universities are struggling,” he declared.
The former Anambra State governor, in a post on his X handle, urged the government to promptly reorganise and revamp TETFund.
Obi wrote: “It is gratifying that the FGN has reversed its demand on the 40% IGR from universities. It is ab initio totally inconceivable that grossly underfunded universities would be expected to dole out 40% of their IGR to the FGN.
“Moreover, that demand underlines a lack of attention to the persistent abuse of the TetFund, which is presently not being properly utilised to fund tertiary education as initially envisaged.
“In fact, FGN should promptly reorganise and revamp TETFund to fulfil its statutory role of funding Nigerian public universities, both federal and state-owned, and also in assisting those owned by voluntary agencies.
“The time has come for the government to pay more attention to the financial autonomy of our public universities while fulfilling its statutory financial responsibility to our public tertiary education.”
Former lawmaker, Senator Shehu Sani, has described the planned increase in electricity and telecom tariffs as unconscionable.
The statement comes after the telecoms regulator last week approved the increase in mobile tariffs.
The federal government also recently said that plans were ongoing to increase electricity tariffs “over the next few months.”
However, Sani, who said the government’s plan is unreasonable, insisted that it should be halted.
The ex-lawmaker also expressed his support for the Nigeria Labour Congress (NLC) over the scheduled protest against the government’s proposal, calling it a welcome development.
“The planned increase in electricity tariffs in the midst of poor power supply and the proposal to increase telecom tariffs is unconscionable and should be halted. The scheduled labour union protest is a welcome development,” he posted on X.
The United States President, Donald Trump, has revealed his decision to cut off all future funding to South Africa, citing poor treatment of “certain classes of people.”
Trump made this known on Sunday in a post on Truth Social, his social media platform.
According to Trump, South Africa was seizing land and mistreating some citizens without concern for the violations of their rights.
“South Africa is confiscating land and treating certain classes of people VERY BADLY.
“I will be cutting off all future funding to South Africa until a full investigation of this situation has been completed!” Trump wrote.
Reports suggest that the American leader may be defending White South Africans, some of whom have alleged that the South African policy is unfair to them.
There are indications that the federal government will on Monday meet with the Nigeria Labour Congress, NLC, to stop the planned Tuesday nationwide protest against the 50 percent telecommunications tariff hike.
A reliable source familiar with the matter, who preferred anonymity, disclosed this on Monday morning, noting that the meeting between the NLC leadership and the federal government is scheduled for 5 p.m. on Monday.
The source said the meeting was a “dialogue on matters of national interest as it affects Nigerian workers.”
According to the source, it will be an inter-ministerial meeting with the Secretary to the Government of the Federation (SGF), purposely to resolve issues raised by the NLC concerning the federal government’s approved upward adjustment to telecommunications tariffs, which the NLC, its allies, and others are vehemently opposing.
This comes as the NLC is already mobilizing workers for a mass protest tomorrow (February 4) against the 50 percent tariff hike approval.
On Thursday last week, in a letter to affiliate unions and state councils, NLC General Secretary Emma Ugboaja urged them to mobilize other Nigerians to send a serious message to the government.
The planned protest follows the 50 percent telecom tariff approval by the Nigerian Communications Commission (NCC) on January 20, 2025.
The approval had sparked widespread rejection among telecom subscribers.
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