President Bola Tinubu has embraced suggestions of FactualTimes Managing Editor, Oyewale Oyelola on a 40 percent deduction of Universities’ internally generated revenue (IGR).
Newsone recalls the Central Bank of Nigeria announced the decision to automatically deduct 40 percent of internally generated revenue of Federal Universities.
In his swift reaction, Oyelola during a live radio program hosted by RoyalFM in Ilorin, Kwara State cautioned the Tinubu-led administration against the implementation of the policy.
The Media Executive said the policy would affect the University system negatively, noting that the Institutions are using their IGR to augment shortfalls and maintain laboratory facilities as well as other financial obligations.
He revealed that University Management uses the IGR to pay Adhoc staff who are providing support at different levels.
President Tinubu cancels 40% IGR deduction from federal universities after widespread condemnation of the policy, says the policy implementation is ill-timed since most universities are still struggling
