The Chairman, Academic Staff Union of Universities (ASUU), Federal University of Technology Akure (FUTA) Chapter, Professor Pius Bamidele-Mogaji, has urged the Federal Government to rescind its decision that universities remit 40% of their internally generated revenue to its coffers.

Professor Mogaji made this known while featuring on Crest Fm’s Programme The Crest Breakfast Show, where he analyzed the merits and demerits of the policy statement.

He explained that 40% of revenue by Ministries, Departments and Agencies can only be remitted to the Federal Government based on the availability of surplus in revenue; something which Federal Universities in Nigeria cannot boast of.

Professor Bamidele-Mogaji also called on the Federal Government to block leakages to be able to fund education properly, while decrying the endemic corruption that has made university funding a tall order for the government.

It would be recalled that the Federal Government recently moved to commence implementation of an automatic 40 per cent deduction of internally generated revenue (IGR) of Federal Universities and other partially funded public institutions across the country, a move ASUU says will further impoverich universities.

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