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TETFUND Commends FIRS Over Increase In Education Tax
The Tertiary Education Trust Fund(TETFUND) has commended the management of Federal Inland Revenue Services(FIRS) for its increase in education tax collection.
The Executive Secretary, TETFUND, Sonny Echono, made the commendation at the TETFUND/FIRS Annual Interactive Forum held in Port Harcourt, last Thursday.
Represented by the Director, Strategic Planning and Development, Erivwo Irene, Echono said that the 2022 interactive forum with the them, ‘Boosting Education Tax Collection for the Growth and Advancement of Tertiary Education in Nigeria is a noble cause between the agencies that have fostered the cause of tertiary education.
Echono said “TETFUND duly recognises the immense contribution of your mandate as the foremost and critical Revenue Service of the Federal Government from which we as a funding agency of the same government derive our intervention and operational funds”.
Echono who pledged to be committed to the mandate of the agency assured transparency and accountability to the government, citizens and stakeholders with FIRS as top on the scale of stakeholders.
“We will therefore continue to encourage this annual interactive forum with the FIRS which has been a veritable platform to discuss issues that are pertinent to the Education Tax (EDT) collection and also showcase the activities and impact of the EDT collection in the tertiary education landscape of the nation.
“Indeed,the need to boost “Education Tax (EDT) collection”, especially at this economically challenging period can never be overemphasized.
“This is in view of the pivotal role it plays in the nation’s educational system as deployed by the Fund and is one of the many vital reasons this Interactive Forum is highly
essential in the general operations of the fund,”Echono said.
He noted that tax collections have direct correlation to earnings and subsequently, the growth of any functional economic system adding that the growth of education tax which forms the bedrock of TETFund’s vision and mission in the nation’s education was one that was consistently on the front burner.
“This explains my earlier excitement and hope of an
improved revenue generation ultimately attaining a 500 billion naira yearly EDT collection.
“This optimism can be situated in the consistent position of President Muhammadu Buhari when he stated that, “we do not have a debt sustainability problem, but a revenue challenge which we are determined to tackle to ensure
our debts remain sustainable,”he said.
In his remark,the Executive Chairman, FIRS, Muhammad Nami, commended the efforts of the Board of Trustees and Management of TETFund for being steadfast in the organisation of the annual forum.
Represented by the FIRS Coordinator for Rivers, Delta and Edo, Hamisu Mohammed, Nami stated that FIRS had continued to make progress in revenue mobilization despite the economic headwinds from the negative consequences of covid 19, rising insecurity and effects of the Russia-Ukraine war on the global economy.
According to him, between January and September 2022, FIRS has collected N7.5trillion which is a significant improvement on the total collection of N6.4trillion for the entire 2021.
“Non-oil taxes accounted for N4.3trillion while Petroleum Profits Tax accounted for N3.1trillion, It is clear that the reforms undertaken since 2020 have started yield
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Independence Anniversary: Nigeria Is A Failed Grandfather – Monarch
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
News
FG begins payment of N32,000 pension increment to retirees – PTAD
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
News
Nigeria At 65: NOA urges citizens to foster unity, progress
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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