Professor Abdulfattah Aboaba, Professor of Computer Engineering University of Maiduguri making presentation on Sustainable Model for Funding Education in Nigeria during a one day Seminar in Maiduguri. Professor Oluwole Sodipo (right) is Chairman of the Occasion.
By Dauda Iliya
A Professor of computer engineering University of Maiduguri, Abdulfattah Aboaba has advocated for the introduction of graduate education tax to improve funding for the education sector.
Professor Aboaba made this known at a seminar on education funding in Nigeria held in Maiduguri, the Borno state capital.
He explained that the proposed tax will ensure that every employed graduate pay certain percentage from his or her income to develop the nation’s education sector.
The lecturer called on the federal government to develop investment strategy for public universities by channelling at least five billion naira annually for the institutions to invest in information, communication technology ICT and industries for a period of five years before making them autonomous.
“The Universities should therefore use the resources to establish education institution industries to generate electricity, production of phones and computers, manufacturing of automobile among others” Professor Aboaba said.
In a virtual presentation, the Chief Executive of Trust Arthur, Dr Basheer Oshodi identified the need for government at all levels to increase budgetary allocation for education, optimising the utilisation of funds earmarked for the sector and diversify funding sources.
He highlighted three education financing model practiced globally to include debt financing, grants and subsidy.
“sustainable debt strategies should explored, focus on investments that generate long-term economic returns while in the area of subsidy, government should provide scholarship, tuition fee waivers and low-interest student loans can assist at tertiary education level ” Dr Oshodi stressed.
Chairman of the occasion, Professor Oluwole Sodipo said the aim of the seminar is to educate the public and draw attention of government and other stakeholders on the need to prioritize education which is veritable tool for national development.