The Tertiary Education Trust Fund (TETFund) has said the Federal Inland Revenue Service (FIRS) has failed to meet up the target of N500 billion for the
By Adesina Wahab
THE Tertiary Education Trust Fund, TETfund, is targeting the sum of N500 billion next year to help address the issue of provision of infrastructure and other support for tertiary Institutions in the country.
This is just as the Fund realized the sum of N251 billion out of the projected N277 billion in the outgoing year.
This was disclosed by the Chairman, Board of Trustees of Tet fund, Hajji Kashim Ibrahim-Imam, during the TETfund/ FIRS 2020 Joint Interactive Forum held in Lagos.
To allow the Fund get more revenue from the Education Development Tax, EDT, the two percent being currently deducted from the profits of quoted companies, may be increased to three percent, as the law that set up the Fund will be amended to that effect.
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