The federal government intends to turn schools into revenue yielding centres by demanding a mandatory 40% remittance of internally generated revenues from educational institutions. This policy has caused outrage among stakeholders in the education sector.
The federal government recently made public its intention to turn schools into revenue yielding centres. This would have been permissible if, like in countries in Europe and America, the standard is high enough to attract foreign students who have to pay in foreign exchange.
This policy that is already causing outrage among stakeholders in the education sector, demands a mandatory 40 per cent remittance of internally generated revenues (IGRs) (read school fees) by Nigerian universities, polytechnics, colleges of education, and other educational institutions to the federal government. Undeterred, the government announced that it would soon begin the implementation of automatic deduction from internally generated revenues of federal universities and other partially funded institutions. Although, the federal government had hinted that it was granting universities the full autonomy to explore sources of financing their activities, no one in the education sector expected that the promised autonomy would come in this for
Nigeria Government Schools Revenue Education Sector Stakeholders Policy Remittance Internally Generated Revenues Autonomy
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