TETFund Grossly Mismanaged, Peter Obi Faults Education Funding In Nigeria

The Labour Party presidential candidate, Peter Obi, has faulted the way Nigeria’s education sector is being funded, promising to change extant and enabling policies to make access to funding seamless, transparent and dedicated if elected president.

Obi in a tweet posted on his verified Twitter handle on Monday said ideally, there should be funds to tackle the problems confronting the country’s tertiary institutions and prevent strikes by university lecturers.

He alleged that the Tertiary Education Trust Fund (TETFund) has been grossly mismanaged, a phenomenon he blamed on ‘state capture’.

“Within available national resources and (TetFund), there should be funds to reasonably tackle the problems of our tertiary institutions and prevent ASUU strikes. Unfortunately, due to State Capture, TetFund has been grossly mismanaged.

“We intend to change extant and enabling policies to make access to such funds seamless, transparent and dedicated for prescribed purposes,” the tweet read.

The Tertiary Education Trust Fund was created in 2011 to disburse, manage, and monitor education tax to government-owned tertiary institutions in Nigeria as a product of the Education Tax Act of 1993.