Education

JUST IN: TETFund hits record high N1.5trn Education Tax collection for 2024

The Tertiary Education Trust Fund (TETFund) has announced a record-breaking N1.5 trillion education tax collection for 2024.

It attributed the increase to the upward review in Education Tax from 2.5 to 3 per cent.

Executive Secretary of the Fund, Sonny Echono stated this on Monday in Abuja at a one-day strategic interactive engagement with heads of beneficiary institutions.

He said: “The increase last year, in the Education Tax from 2.5% to 3% – authorized by the Commander-in-Chief, President Bola Ahmed Tinubu, represents a significant stride for TETFund.

“This change, culminating with a record-breaking Education Tax collection of approximately 1.5 trillion Naira so far this year, reinforces the government’s dedication to strengthening Nigeria’s educational framework”.

Details soon.

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