FG Urged to Extend TETFUND Grants and Tax Waivers to Private Universities in Nigeria

The Chancellor of Crescent University, Abeokuta, Ogun State, Prof. Ibrahim Gambari, has called on the Federal Government to extend Tertiary Education Trust Fund (TETFUND) grants and other academic support to private universities across Nigeria to strengthen the country’s education system.

Speaking during the 17th Convocation Ceremony of Crescent University, where 667 students graduated for the 2024/2025 academic session, Gambari said many private institutions are currently facing serious financial strain due to rising costs of operations, driven by inflation and high utility expenses.

He urged the administration of President Bola Tinubu to consider private universities as partners in national development rather than revenue-generating entities. According to him, extending TETFUND research grants and offering tax waivers would help private universities sustain quality education despite the harsh economic realities.

Private Universities Facing Rising Operational Costs

Prof. Gambari disclosed that the institution’s monthly electricity bill had skyrocketed from about ₦1 million to over ₦20 million in just two years, alongside increasing expenses for security, solar power systems, constant water supply, Wi-Fi connectivity, and library resources.

He stressed that the government must recognize the crucial role of private universities in filling the admission gap created by the limited capacity of public institutions. Gambari added that the social responsibility of private universities deserves support, not taxation.

“I charge the Federal Government to include private universities in TETFUND and find ways to support them through competitive research grants across the six geopolitical zones. Government should see private universities as partners in progress rather than as revenue sources,” he said.

The Chancellor emphasized that many private universities are overburdened with financial obligations and need tax reliefs to continue contributing meaningfully to human capital development in Nigeria.

Appeal for Government Intervention and Corporate Support

Gambari also called on corporate organizations to extend their Corporate Social Responsibility (CSR) initiatives to private universities, noting that the high cost of goods and services, worsened by the removal of fuel subsidy, has made it difficult for these institutions to sustain their infrastructure.

“It is the duty of the government to ensure that private universities survive for the good of society,” he said.

He further highlighted that graduates of Crescent University have consistently excelled internationally, earning distinctions and PhD grades in foreign universities—proof of the quality of education delivered by private institutions in Nigeria.

Vice Chancellor Reiterates Need for TETFUND Inclusion

The Vice Chancellor of Crescent University, Prof. Ibraheem Gbajabiamila, echoed the Chancellor’s appeal, urging the Federal Government to urgently extend TETFUND grants and infrastructure support to private universities. He lamented the high costs of running university operations in the face of Nigeria’s economic challenges.

Gbajabiamila commended the best graduating student, Ganiyu Feranmi of the Bola Ajibola College of Law, for his outstanding performance, noting that the institution has consistently produced brilliant minds contributing to research, innovation, and national development.

He added that the university maintains strict discipline against examination malpractice, cultism, drug abuse, and indecent dressing, while calling on parents to guide their children to remain responsible citizens.

Continuing the Legacy of Excellence

Earlier, the Proprietor and Chairman of the Board of Trustees, Prince Muhammad Ajibola, reaffirmed the university’s commitment to the legacy of its late founder, Prince Bola Ajibola, emphasizing that his dedication to education and morality continues to inspire the school’s pursuit of academic excellence.

He stated that Crescent University will keep investing in modern technology, research, and innovation to ensure students remain competitive globally and continue to contribute positively to Nigeria’s educational and economic advancement.

Nigeria currently has over 80 private universities, many of which are struggling with high maintenance costs and limited access to government funding. Extending TETFUND grants, tax exemptions, and policy incentives to private institutions could:

• Encourage investment in STEM and digital education
• Promote research and innovation
• Reduce brain drain by improving academic conditions
• Support affordable tuition for students from low-income backgrounds

Experts believe that supporting private universities could boost the overall performance of Nigeria’s education sector and reduce the pressure on federal and state-owned tertiary institutions.