The Coalition of Northern Groups (CNG) Students-wing, has rejected in totality the proposed Tax Reform Bills, saying they are designed by the enemies of the state to undermine already paralyzed educational sector in the Northern region.
A statement issued by Hassan Adamu, National Coordinator of CNG Students-wing, said the Tax Reform Bills were crafted “to undermine our existing educational institutions and equally ensure that anything good in the sector becomes a history, which Nigerian students will vehemently resist no matter what.”
According to Adamu,”The reform will have a deteriorating effect on critical institutions that support the educational development in the country.
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“We see the Tax Reform Bills as a deliberate attempt to attack our critical National Institutions that are responsible for basic infrastructure in tertiary institutions, thereby ensuring that the institutions become mortuaries.
“The contributions of Tertiary Education Trust Fund (TETFUND) since its inception cannot and will not be over-emphasised, having played a pivotal role in financing research, physical infrastructure, staff training and development.
“Tertiary Education Trust Fund (TETFUND) which is currently funded through 3% of Tertiary Education tax on companies annual accessible profit; will now receive 50% of the levy by 2025 and 2026 it will increase to 66% from 2027 to 2029 be for diminishing to 3%, according to the proposed Tax Reform Bills.
“TETFUND will not have any allocation by 2033, which by implication, will lead TETFUND to extinction, a situation which is tantamount to degrading the Tertiary Education system in Nigeria.
the Nigerian Education Loan Fund (NELFUND)
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Adamu said the proposed Bills would favour the Nigerian Education Loan Fund (NELFUND), with its long-term negative consequences which will increase access to student loans and consequently trap the youth in bondage and possibly turn the institutions of learning into revenue generating agencies.
“NELFUND is currently funded by 1% deduction collected from Taxes, levies, and duties collected by the Federal Inland Revenue Service (FIRS), it will now receive 25% of the levy in 2025 and 2026, 33% from 2027 to 2029 and 100% by 2030, according to the proposed Tax Reform Bills.
“The implication of this is that, the proposed bills, if passed into law, will divert funds to critical sectors such as infrastructure, innovation initiatives with long-time development impact.
“It shifts attention to Students loan, this could also give reason for the public Tertiary institutions to increase their tuition fees.
“It would also make our public tertiary institutions to be revenue generating entities, paving way for privatisation of our tertiary institutions, thereby making it inaccessible to the masses.
“This will also saddle our youth with unsustainable debt burden. This mirrors the country’s chronical national indebtedness, and as well risks creating a generation of financially constrained youth that are incapable of contributing meaningfully to our economy.”
The group, therefore, called on the Federal Government for the interest of Nigerian students to discontinue the reform process and give room for a holistic consultation and amendment before legislation.
“We call on all patriotic legislators and all well-meaning Nigerians to study the Bills with keen interest and ensure justice to our educational institutions and Nigerian students.”
