To pay for the infrastructure in Nigeria’s universities, ASUU President Prof. Emmanuel Osedeke recently proposed raising the education tax from three to ten percent.
The Academic Staff Union of Universities’ proposal to raise the tertiary education levy from three percent to ten percent has been criticized by tariff experts. They claimed that following this course would harm private businesses, which are already burdened with taxes.
“Because education tax is calculated on a much larger base than corporate income tax, I can say with authority that one basis point of education levy rate is equivalent to two basis points of corporate income tariff rate”.
On the students’ loan scheme being proposed by a presidential candidate in next month’s election, Rewane said it was not a viable option.