The Tertiary Education Trust Fund (TETFund) has announced a record-breaking N1.5trillion Education Tax collection for 2024.
It attributed the increase to the upward review in Education Tax from 2.5 to 3 percent.
Executive Secretary of the Fund, Sonny Echono, stated this on Monday in Abuja at a one-day strategic interactive engagement with heads of beneficiary institutions.
He said: “The increase last year, in the
Education Tax from 2.5% to 3% – authorized by the Commander-in-Chief, President Bola Ahmed Tinubu, represents a significant stride for TETFund.
“This change, culminating with a record-breaking Education Tax collection of approximately 1.5 trillion Naira so far this year, reinforces the government’s dedication to strengthening Nigeria’s educational framework.”
