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FG explores private sector partnership to fund tertiary education
The Federal Government is exploring the option of private sector partnership to fund tertiary education, Minister of Labour and Employment, Dr Chris Ngige, has said.
Such arrangement has become a necessity in view of the current reality that the government cannot sustain the funding of the institutions alone, according to the minister.
Ngige gave this indication in an interview he granted Arise News Channel Sunday night.
He said in keeping with economic realities, the government had decided to seek alternative funding sources from the private sector to meet the requirements of public tertiary education.
He said, “The Federal Government alone cannot sustain the tertiary education or even the education system in Nigeria. Do not also forget that education is on the concurrent list,” he said.
The minister also faulted the funding options recommended by the Academic Staff Union of Universities, saying they were not implementable.
“We agreed with ASUU to put up a NEEDS assessment committee, which they are members. That committee has come up with suggestions on possible sources of funding the universities but when they were presented to government, they were found not to be implementable.”
Ngige said one of the recommended sources of funding universities, as recommended by ASUU, was the Value Added Tax (VAT) but explained that 85 per cent of the revenue would go to the states, leaving only 15 per cent for the Federal Government.
The minister said ASUU also suggested stamp duty proceeds should be used to fund the universities, adding that the proposal isn’t feasible as only the Federal Inland Revenue Service (FIRS) can collect stamp duty.
“So, these two funding sources suggested by ASUU could not be pushed through by the ministry. So, the NEEDS committee is now working on another validation of other sources, targeting the private sector,” he said.
He appealed to ASUU to accept the Federal Government’s offer and call off its eight-month industrial action.
Ngige said the Federal Government had met almost all the demands made by the union.
“I feel that even this offer is one of the best they have ever got since I started conciliation with them. I do not see why they should not accept it. Everything they asked for has been granted. I don’t think they should say the offer is not good.
“But I told them before they left that asking the nation and the students to wait from Friday to Friday is unfair; they should come back to us by Tuesday. They have done that before when we negotiated with the Senate president. The offer was made on a Thursday and they came back to us on a Tuesday.
“So, that’s what I expect them to do this time around. If they do so, the nation will appreciate them and regard them as patriotic citizens of the Federal Republic of Nigeria. I expect them to get back to me much earlier than Friday.”
Ngige explained that part of the proposals made to ASUU is that the Federal Government was ready to provide N40 billion for payment of earned allowances to all university workers and N25 billion as revitalisation fund to improve infrastructure.
He said government had asked ASUU as an alternative to accepting the provision of N35 billion as earned allowances and so as to raise the money for revitalisation fund to N30 billion.
The minister also said that the government had agreed to pay striking lecturers the withheld salaries for February to June.
He, however, added that the problem was how the payment would be done since the affected lecturers were not registered on the IPPIS.
Ngige said the government agreed that the lecturers be paid using the old method.
On the evaluation of the ASUU’s alternative payment platform, the University Transparency and Accountability Solution (UTAS), Ngige said the software was undergoing integrity test at the Nigeria Information Technology Development Agency (NITDA).
“I am not a scientist; I am not a guru. I will only rely on what experts in the Nigeria Information and Technology Development Agency tell me and the same way they will write to ASUU, the Federal Ministry of Education and the Accountant General of the Federation. We have an AGF who does not speak with the media and a minister of finance that is very busy with managing the country’s economy and talking to our creditors and bilateral partners. So, as a conciliator, it is me that will say what the situation is with government,” Ngige said.
News
Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
News
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Ebonyi State Governor Francis Nwifuru has announced the immediate suspension of two commissioners with a permanent secretary among others for gross misconduct.
Those suspended are the Commissioner for Housing and Urban Development Francis Ori, and the Commissioner for Health, Moses Ekuma, with the Permanent Secretary of the Ministry of Health.
The suspension followed an incident on Saturday night, when the governor reportedly visited the Ministry of Health’s premises and was said to have found six officials diverting government materials.
Others suspended for three months are the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency
The suspension order was announced by the state Commissioner for Information, Jude Okpor, who cited alleged misconduct and dereliction of duties as the reasons for the disciplinary actions.
Okpor made the disclosure on Tuesday during a press briefing on the outcomes of the State Executive Council meeting held on Monday at the New Government House in Abakaliki, the state capital.
“Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health, respectively
“In view of the development, the Special Assistant to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended commissioner.
Governor Nwifuru directed the suspended government officials to hand over all government properties in their possession including vehicles to the Secretary to the State Government.
News
Why we’re borrowing despite surplus revenues – FG
Why we’re borrowing despite surplus revenues – FG
The Federal Government has defended its decision to borrow to address budget deficits, despite surpassing revenue targets in 2024.
Finance Minister Wale Edun and Budget Minister Atiku Bagudu clarified this position during a session with the National Assembly’s Joint Committee on Finance, Budget, and National Planning. The meeting focused on the 2025–2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Last week, the National Assembly approved President Bola Tinubu’s $2.2 billion loan request to fund the N9.7 trillion deficit in the 2024 budget partially.
During the session, key agency heads, including Nigerian National Petroleum Company Limited (NNPCL) CEO Mele Kyari, Customs Comptroller-General Bashir Adeniyi, and Federal Inland Revenue Service (FIRS) Chairman Zacch Adedeji, presented their revenue reports.
The agencies reported exceeding their 2024 targets.
- Customs Service: Generated ₦5.352 trillion by September 30, surpassing its ₦5.09 trillion target for the year. For 2025, the agency projects ₦6.3 trillion, with a 10% increase planned for 2026.
- NNPCL: Achieved ₦13.1 trillion in revenue, exceeding the ₦12.3 trillion projection for 2024. Kyari announced a ₦23.7 trillion revenue target for 2025.
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- FIRS: Surpassed multiple tax collection goals, including ₦5.7 trillion from company income tax against a ₦4 trillion target. Education tax collections also exceeded expectations, reaching ₦1.5 trillion compared to a ₦70 billion target.
Overall, ₦18.5 trillion of the ₦19.4 trillion 2024 revenue target had been achieved by September, indicating the goal will be exceeded by year-end.
Despite these surpluses, the government insists borrowing remains essential to cover budget gaps and support vulnerable populations.
Bagudu explained, “Even with agencies exceeding revenue targets, borrowing is necessary to address deficits and boost productivity, particularly for the poorest. This aligns with Agenda 2050, which aims for a GDP per capita of $33,000.”
Edun also reiterated that loans were critical for adequately funding the budget.
The committee, led by Senator Sani Musa, questioned the rationale behind the borrowing and demanded further transparency. The Immigration Service was specifically asked to provide documents regarding an “unacceptable PPP arrangement” before the end of the week.
The session underscored the government’s balancing act between increased revenues and fiscal challenges requiring external borrowing.
Why we’re borrowing despite surplus revenues – FG
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