The Federal Government has announced the reversal of the implementation of payment of 40 per cent of Internally Generated Revenue (IGR) from Nigerian universities to the government.
President Bola Tinubu made the announcement at the 75th Anniversary and 2023 Convocation ceremonies of the University of Ibadan on Tuesday.
Tinubu, who was represented at the event by the Minister of Education, Prof. Tahir Mamman, said the Ministry of finance had been engaged to stop the circular for the implementation.
“We know that this law was enacted in 2020 and the circular was issued in 2021, but this is not a good time for such policy,” he said.
Tinubu reiterated its commitment to the education sector in line with the 2030 education agenda of the government and African Union goal 2063.
He said “The Federal Government is bringing more innovation to reform the entire education sector for curriculum review at all levels from primary to basic education with the reintroduction of skills to attend to out-of-school menace.”
The president noted that the introduction of students’ loans was to ensure that no student was left out of education due to poverty.
Tinubu stated that he was aware of the problem of industrial disputes of the past, hence his administration would pay attention to issues of welfare and all factors generating industrial disputes.
In his address, the Chancellor of UI and Emir of Sokoto, Alhaji Sa’ad Abubakar congratulated the university for its notable achievements in the last 75 years.
He noted that the celebration also called for reflection on the impact of the university on the communities as knowledge from the universities must benefit the communities and Nigeria through quality research.
Abubakar stated that public service had failed compared to what obtained 50 years ago, adding that universities must rise up to salvage the state of public service through quality graduates.
Earlier in his address, the Vice-Chancellor, University of Ibadan, Prof. Kayode Adebowale noted the contributions of the university charging the graduands not to rest on their oars.
Adebowale said that a total of 6,865 graduands received first degrees in various disciplines across 17 faculties, 2,842 received Academic Masters Degree, 131 postgraduate Diplomas and 25 Masters of Philosophy.
The VC said a total of 722 graduands from various disciplines were awarded Doctor of Philosophy degrees and Prof Mayowa Owolabi was awarded Doctor of Science, a higher doctorate degree.
“The university will not relent in its resolve to be the flagship of postgraduate studies in the nation,” Adebowale said.
The News Agency of Nigeria, (NAN) reports that four Nigerians were awarded honorary doctoral degrees including Dr Daisy Danjuma, Dr Abdusamad Rabiu, Dr Kessington Adebutu and Dr Solomon Oladunni.