News
TETFund Puts Education Tax Revenue @N1.5trn in 2024
The Tertiary Education Trust Fund (TETFund) has announced that the education tax revenue for 2024 has hit N1.5 trillion. TETFund Executive Secretary Sonny Echono made the disclosure at the meeting of heads of TETFund beneficiary institutions in Abuja on Monday.
He said the figure is what the fund has made over the years, attributing the achievement to the increase in education tax from 2.5 per cent to 3 per cent. “The increasing the education tax last year from 2.5 per cent to 3 per cent represented a significant stride for TETFund.
“This change culminated in a record-breaking education tax collection of approximately N1.5 trillion so far this year. It reinforces the government’s dedication to strengthening Nigeria’s educational framework.
“The revenue generated from the education tax plays a significant role in maintaining and improving the infrastructure of our institutions, enhancing academic programmes, and promoting accessibility for students from diverse backgrounds.
“We now enter the 2025 budget cycle with a stronger foundation, one that allows us to enhance our impact across the country’s tertiary institutions.”
Echono said the meeting with heads of tertiary institutions was a shared commitment to establishing a harmonious working relationship with relevant stakeholders, fostering an environment where efforts can be aligned to reposition TETFund for optimal performance.
“As Heads of TETFund beneficiary institutions, you play a pivotal role in actualising the mandate of the Fund. It is crucial that we engage constructively to set a clear course for the Fund’s direction and operational priorities.
“TETFund’s purpose is to empower our nation’s human capital, addressing the urgent need for capable, skilled professionals across all sectors,” he said.
Permanent Secretary, Federal Ministry of Education, Dr. Nasir Gwarzo, in his speech, stressed the importance of strengthened accountability and transparency in managing TETFund disbursements.
“We must be reminded that the future of Nigeria’s educational system is in our hands. As leaders, we bear the responsibility of ensuring that our institutions remain beacons of learning, innovation, and integrity.
“Today’s interactive engagement is an opportunity to build on the strides we have made, to reflect on areas that need improvement, and to chart a way forward that will strengthen not only our individual institutions, but the entire Nigerian educational system,” he said.
The Chairman, Senate Committee on Tertiary Institutions and TETFund, Senator Muntari Dandutse, in his remarks, stressed the importance of tertiary education to the growth and development of any nation.
He said, “In Nigeria, our higher education sector is not just an academic pursuit; it is a social, cultural, and economic lifeline. The universities, polytechnics, and colleges of education across the country play a central role in providing access to quality education and preparing the youth for the demands of an increasingly complex and competitive global economy.”
He said the Committee is deeply committed to ensuring that institutions are adequately supported and funded. “This is why TETFund remains a critical partner in realising the aspirations of the Nigerian government in the education sector.
“However, while TETFund has made remarkable strides in advancing the course of tertiary education, we must acknowledge that there are still numerous challenges to overcome.
“These include inadequate infrastructure, lack of modern teaching facilities, inadequate research funding, and the need for continuous capacity building for both academic and non-academic staff.
“As we embark on the 2025 intervention cycle, it is crucial that we work together, across all levels of government and within the institutions themselves, to ensure that these interventions are effectively utilised and reach the intended outcomes.”
He said the 2025 intervention guidelines present an exciting opportunity for stakeholders to continue making progress in addressing the identified challenges and to foster greater engagement and collaboration between TETFund, the National Assembly, and the heads of tertiary institutions. “The success of our education system is not just dependent on funding but also on effective partnerships,” he said.
Accelerating artificial intelligence (AI) adoption could increase Africa’s GDP by up to 4% over the next decade, according to the International Monetary Fund (IMF).
In a report released on Tuesday, titled Africa Can Grow Faster With AI—If It Moves Now, economists from the IMF’s Africa Department say current levels of AI adoption and utilisation are expected to contribute just 0.2% to the region’s GDP over the next 10 years.
However, the report says stronger adoption, supported by the right infrastructure and policies, could raise the economic impact to about 4% by extending AI beyond today’s digitally connected firms.
Martin Schindler and other IMF economists say: “AI adoption in sub-Saharan Africa currently lags well behind every other region. If richer economies race ahead while African firms and governments lag, the productivity gap between the region and the rest of the world will only widen.”
Early signs of AI adoption are emerging across Africa, with countries including Zimbabwe, Kenya, Egypt and Nigeria developing AI strategies.
Telecommunications operators, including Vodacom, Econet, Africell and MTN, are also integrating AI into their operations and networks.
Other examples include chatbots supporting teaching and learning in Nigeria and the South African Revenue Service’s use of data analytics for targeted tax audits.
However, the IMF says AI adoption must extend beyond these early use cases to deliver meaningful economic benefits.
“For the region, AI’s main promise is not about replacing office workers, but boosting productivity across the economy—helping informal firms manage inventory, enabling farmers to increase yields, and supporting mid-sized firms to transition to formality and export readiness,” the report reads.
The IMF is urging governments to prioritise investment in reliable electricity, affordable broadband, data infrastructure and digital skills to support wider AI adoption.
Many African countries, including Zimbabwe, Kenya, Ghana, Nigeria and Cameroon, continue to face electricity shortages, while broadband services remain costly and coverage is uneven.
The Fund believes stronger investment in power, connectivity, regional data infrastructure and digital skills would help unlock AI’s economic potential.
National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.
Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.
Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.
He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.
According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.
“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.
“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.
The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.
He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.
Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.
He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.
He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.
Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.
Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.
He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.
The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.
The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.
The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.
Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.
In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.
According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.
The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.
YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.
The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.
The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.
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