The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, has said the newly introduced Development Levy will significantly reduce Nigeria’s out-of-school population and enhance the quality of tertiary education nationwide.
Nigeria currently has an estimated 18.3 million out-of-school children, according to UNICEF — one of the highest figures globally.
Speaking on Monday at the 2025 TETFund Board of Trustees Town Hall Meeting in Lagos, Echono confirmed that TETFund will begin receiving 50% of the levy from 2025, giving the agency a renewed funding stream to deepen its interventions.
The Development Levy, introduced under the Nigeria Tax Bill 2024, consolidates four existing levies:
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Tertiary Education Tax
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Information Technology Levy
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NASENI Levy
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Police Trust Fund Levy
Under Section 59(3) of the bill, TETFund will receive:
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50% of proceeds in 2025 and 2026
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66.7% from 2027 to 2029
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0% from 2030 onward, with all funds thereafter directed to the Nigerian Education Loan Fund.
Echono stressed that TETFund’s continued funding was essential to tackling Nigeria’s educational challenges, including the high number of out-of-school children and poor institutional standards.
“With the Development Levy taking effect next year, the President has ensured we will receive 50% of that funding to strengthen interventions needed to make our institutions globally competitive,” he said.
“We want graduates who can work anywhere in the world — creators of jobs, creators of wealth.”
He revealed that President Bola Tinubu personally intervened to prevent an earlier proposal to slash TETFund’s funding, reiterating that “the future of our country depends on it.”
Chairman of the Senate Committee on Tertiary Institutions, Muntari Dandutse, praised TETFund and assured that the National Assembly would continue supporting critical reforms.
“The 50% going to TETFund is not only for infrastructure but also for building the intellectual capacity of our younger generation,” Dandutse said. “Research and innovation remain key to the country’s success.”
Director-General of CIAPS, Prof. Anthony Kila, called for stronger accountability mechanisms, insisting that beneficiaries must justify how funds are utilised.
“TETFund’s responsibility must go beyond disbursing funds; it must also hold recipients accountable,” he said. “Proper use of funds should attract more support.”
He also urged a review of the agency’s relationship with private universities.
Chairman of the TETFund Board of Trustees, Bello Masari, reaffirmed the Fund’s commitment to delivering its mandate but stressed that long-term success required collective support.
“Institutions, communities, industry partners, alumni networks and civil societies must work together to safeguard facilities and promote a culture of maintenance on campuses,” he said.
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