President Bola Tinubu has cancelled the automatic deduction of 40 percent from the Internally Generated Revenue (IGR) of federal universities.
The president noted that the policy implementation is ill-timed.
Tinubu disclosed this on Friday at an ongoing 75th Founder’s Day ceremony of the University of Ibadan (UI).
The president was represented by the Minister of Education, Tahir Mamman.
In his speech, Tinubu pledged his commitment to the reform of the nation’s education sector as the bedrock for national development.
“The 40 per cent IGR automatic deduction policy stands cancelled. This is not the best time for such policy since our universities are struggling,” he said.
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