Education
Stakeholders Advocate Special Funding, Tax Cut for Education
By Modupe Gbadeyanka
The need to provide a special funding package for the education sector in Nigeria has been emphasised by stakeholders. Also, they want more involvement of the private sector so as to improve the quality of education in the country.
At the Ecobank Digital Series titled Education in Nigeria – The role of private investment, participants further stated that the government should give tax concession and import duty waivers for educational equipment in the face of the negative impact of the COVID-19 pandemic.
In his presentation, Professor Olabode Ayorinde, the Pro-Chancellor Achievers University, stressed the need for government at all levels to place high priority on the education sector when providing intervention funds, urging commercial banks to also lend more to this sector at low interest rate.
According to him, “The private sector has played a significant role in education development. However, funding has been a major issue.
“A critical analysis shows inadequate infrastructure, lack of equipment and teaching aids, high teacher to student ratio, all of which requires a loan facility to solve.
“Regrettably, we see the government and its agencies providing intervention funds to the aviation sector, agriculture and the creative sector without considering the education sector.”
On his part, Dr Suleiman Ramon-Yusuf of the National Universities Commission (NUC) attributed the poor state of the nation’s economy to the inability of the private sector in making the right impact on the education sector, noting that endowments, scholarships and bursaries would create access for schools to admit more students.
He disclosed that the NUC will continue to provide an enabling environment for education and learning to thrive in the country, urging the private sector to invest more in human capital development, while limiting undue interference from the investors.
Also, the Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Muda Yusuf, called for government’s intervention in the education sector, especially at the foundation level, maintaining that it was not easy to sustain the education sector with loans from the commercial banks because of high interest rates.
He canvassed for tax concession for private investments in education, adding that “Licensing for private universities should be made easy to enable inclusiveness and a model that will include scholarships and bursary should be enacted.”
In her contribution, Mrs Folashade Adefisayo, the Commissioner for Education in Lagos State, said there are more private schools in the state than public schools and most of them may not survive the gruelling effects of the COVID-19 pandemic.
According to her, “Land and access is the main hindrance to building of more schools in Lagos State. Currently, the government is working on synergy between the public and private sectors, reviewing and optimising the school curriculum, improving the quality of primary education, investing in teaching aids for schools and much more.”
Towing the same line Prof. Badamasi Lawal, Commissioner for Education, Katsina State, posited that “Initiatives for teachers development, public and private sector partnership, better and favourable legislation, corporate social responsibility like scholarship, bursary and tax concession would go a long way in providing the enabling environment for education sector to thrive in the country.”
On her part, the Segment Head, Public Sector at Ecobank Nigeria, Mrs Annabel Ikuenobe, stated the readiness of the bank to keep supporting the growth of the education sector in the country.
She enumerated the bank’s several products and initiatives available for Ecobank customers, saying “one of our products to serve the education sector is the Ecobank School Bundle.
“The bundle comprises a current account, which runs at a zero maintenance fee. We also have in place digital banking services, which include PoS, corporate card and Omnilite for easy disbursement of funds; E-billspay, to support collections and administration of the school portal, which promotes remote learning for students, receipt generation and the school’s communication management. Loans are also available for Ecobank customers.”
By Adedapo Adesanya
The Nigerian Education Loan Fund (NELFUND) has granted another extension for its Student Loan Application Portal to accommodate institutions that requested additional time for the 2025/2026 academic session.
According to the statement signed by NELFUND’s Director of Strategic Communications, Ms Oseyemi Oluwatuyi, on Thursday, the extension applies only to institutions that submitted formal requests, allowing eligible students extra time to complete their applications.
“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal for institutions that have formally requested additional time for the 2025/2026 academic session,” the statement read.
Business Post reports that at the beginning of March, NELFUND announced an extension to the deadline by a week for its student loan application portal following a notable rise in nationwide interest driven by ongoing awareness campaigns.
Speaking on the development, NELFUND Managing Director and Chief Executive Officer, Mr Akintunde Sawyerr, reiterated the Fund’s commitment to ensuring that eligible students at participating institutions can access the student loan programme.
“NELFUND remains committed to ensuring that eligible students across participating institutions have the opportunity to access the student loan programme,” he said.
The Fund urges students in affected institutions to take advantage of the extension and submit their applications through the official portal.
It also emphasised its dedication to transparency, accountability, and providing sustainable financing solutions to remove financial barriers to higher education in Nigeria.
Established to administer the Nigeria Student Loan Scheme, NELFUND was enacted into law by President Bola Tinubu in April 2024.
The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
Beneficiaries are required to repay the loans after completing their education and securing employment, aiming to increase access to higher education for students from low-income backgrounds.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has inaugurated a Curriculum Review Committee aimed at strengthening taxation education in Nigerian academic institutions and improving the country’s tax administration system.
According to a statement, the committee was inaugurated on February 24, at the NRS Academy in Durumi as part of the agency’s broader efforts to modernise tax education and align academic training with the evolving demands of contemporary tax administration.
Speaking during the inauguration, the Director of the NRS Academy, Mr Adeolu Akinyemi, said the review exercise would involve collaboration with the Chartered Institute of Taxation of Nigeria (CITN) to develop a more structured and relevant curriculum for the academy.
He emphasised that the initiative seeks to ensure that taxation programmes taught in Nigerian institutions reflect current developments in tax policy and practice, while also equipping students with the practical knowledge required in today’s tax administration environment.
The committee has been tasked with examining existing taxation curricula across Nigerian institutions and proposing updates that incorporate modern tax policies, recent legislative changes, and emerging areas such as digital taxation and global tax practices.
Officials say the review is also designed to close the gap between theoretical classroom instruction and the practical realities of tax administration.
By strengthening the link between academic learning and professional practice, the revised curriculum is expected to better prepare graduates for careers in the tax sector.
The effort is further expected to enhance tax awareness among citizens, encourage voluntary tax compliance, and support the development of skilled tax professionals who can contribute to national revenue generation and economic growth.
The committee is chaired by Mrs Aisha Hamman Mahmoud, Special Adviser to the Executive Chairman of the NRS on Research and Statistics. Its membership includes representatives from the service as well as academic experts in taxation and fiscal policy, alongside professionals with experience in tax administration, policy formulation, and tax education.
The committee will work with relevant educational regulatory agencies and professional bodies to ensure that the proposed curriculum aligns with national academic standards while addressing the practical needs of Nigeria’s tax system.
The NRS stated that the initiative forms part of its ongoing commitment to expanding tax knowledge, strengthening professional capacity, and promoting responsible tax practices across the country.
The curriculum review exercise is expected to be completed within 60 days, after which the Service plans to provide further updates on the implementation of the revised programme.
By Modupe Gbadeyanka
The first batch of Nigerian undergraduates to enjoy fully paid scholarships for studying science, technology, engineering and mathematics (STEM) courses across the continent has been chosen by Airtel Africa Foundation.
Business Post gathered that 70 students from universities across Nigeria were selected from thousands of applicants through an independently managed process, which took nearly six months.
It was learned that most of the undergraduates were from the University of Lagos (UNILAG), Obafemi Awolowo University (OAU) Ile-Ife, the University of Benin (UNIBEN), Tai Solarin University of Education (TASUED), the University of Ilorin, Ahmadu Bello University (ABU Zaria), and the University of Nigeria (UNN).
The scholarship covers tuition, laptop computers, living expenses, and essential learning resources, a statement from Airtel Africa Foundation disclosed.
The chairman of the foundation, Mr Segun Ogunsanya, speaking at the presentation of the scholarships to the beneficiaries at the Lagos headquarters of Airtel Nigeria, emphasised the need for initiatives such as the Airtel Africa Foundation’s undergraduate tech scholarship for the future of the continent.
“True legacy is not measured by the awards we win or the volume of SIM cards we sell; it is measured by the lives we save, the people we feed, and the students we support when the line between success and failure is at its thinnest.
“At the Airtel Africa Foundation, we believe that lifting people out of poverty is the ultimate benchmark of a great company. Today, we are writing that legacy by tilting the balance in favour of the brilliant but underserved, ensuring that the fourth industrial revolution, driven by AI and Data Science, is built by African talent for the African continent,” he stated.
Mr Ogunsanya further revealed that this fellowship, executed through Airtel Nigeria, is designed to bridge the gap where funding, skills, and opportunity often fail to meet.
In addition to the N500,000 yearly budget for the fellows’ four-year or five-year courses, each fellow would be integrated into a structured support system for academic guidance and career mentorship, intended to ultimately transition students from the classroom to the global tech workforce.
Addressing the students, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, stressed that youth development is a strategic imperative for Airtel.
“At Airtel Nigeria, we view youth development as essential nation-building. When young people succeed, innovation accelerates, and social stability improves.
“By connecting these brilliant scholars to knowledge, skills, and confidence, we are fulfilling our core mission to connect people to opportunity. To our recipients: you earned your place here through merit and discipline. You are now ambassadors of excellence, and we expect your leadership to be defined by your conduct as you help shape a more inclusive digital future for Nigeria,” the Airtel Nigeria chief said.
The Nigerian cohort joins a prestigious network of Airtel Africa Foundation fellows currently studying in Tanzania, the Democratic Republic of Congo (DRC), Uganda, and India.
The initiative underscores a broader commitment to technology education, youth development, and Nigeria’s digital economy.
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