President Bola Tinubu has embraced suggestions of FactualTimes Managing Editor, Oyewale Oyelola on 40percent deduction of Universities internally generated revenue (IGR).
Recall the Central Bank of Nigeria announced decision to automatically deduct 40 percent internally generated revenue of Federal Universities.
In his swift reaction, Oyelola during a live radio program hosted by RoyalFM in Ilorin, Kwara State cautioned Tinubu led administration against implementation of the policy.
The Media Executive said the policy would affect 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.
Feelers from Aso Rock Villa indicates that President Tinubu has canceled 40% IGR deduction from federal universities after widespread condemnation of the policy.
The President reportedly said the policy implementation is ill-timed since most universities are still struggling.
