The Academic Staff Union of Polytechnics, Thursday, called on administrators of polytechnics in the country to make “judicious use” of intervention funds released by the Tertiary Education Trust Fund.
Speaking with our correspondent in Abuja, the national president, ASUP, Dr. Anderson Ezeibe, who also called on the Federal Government to ensure an increase in the intervention released to tertiary institutions in the country, warned against endangering companies who are responsible for the education tax received by TETFund.
Earlier, The PUNCH had reported how the regime of the President, Major General Muhammadu Buhari (retd.), released the sum of N320bn to tertiary institutions.
Ezeibe said, “Beyond the quantum of funds released, it is important to ensure that the funds are put to judicious use.
“On the amount, the fund is an intervention fund. The value is not such that will satisfy the funding/ infrastructure gaps in the sector. When benchmarked against the backdrop of the depreciation in the value of the Naira, the funds will pale into even lower value. This is why we are interested in activities that will ensure value for money.”
Speaking on the need to increase funding, the union leader said, “There’s need to increase funding. We are inclined to support such calls but at the same time for government to ensure that such increases in taxation does not hurt the economy by endangering the companies paying the tax.”
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