The founder of Achievers University in Owo, Prof. Bode Ayorinde, has appealed to President Bola Tinubu and the National Assembly to exempt education sector from taxes for national development.
Ayorinde suggested a subsidised and supported education sector to ensure that national development was not impeded.
The founder, also the Pro-Chancellor, and Chairman, Governing Council of the university, stated this at the 15th convocation and 18th foundation anniversary of the institution on Saturday in Owo.
He described education as a critical sector for national transformation and development, stating that private universities in Nigeria were established not for profit making, but to complement government’s efforts.
“We shoulder responsibilities that government itself cannot meet. To tax education, therefore, is to stop scholarship and free tuition in some of our programmes and to increase the tuition of fast selling programmes.
“This may, thereby, stop many aspiring students yearning for knowledge from accessing quality education.
“Any surplus realised by private universities is ploughed back to infrastructure and other developmental projects.
“ Mr President and the National Assembly should please be informed and guided that an attempt to impose taxes in educational institutions is to tax knowledge, enlightenment, opportunities and tax the future of young Nigerians.
“This will be counter-productive and contrary to global best practices,” he stated.
Ayorinde cited the United States of America, Canada, the United Kingdom and South Africa where universities were being exempted from the financial burden of taxation.
“Also, taxing education will contradict national development goals. No nation can industrialise without investing heavily in education.
“Taxation undermines research, innovation and knowledge production. This is an appeal to the Federal Government for a policy reform.
“Government should, as a matter of urgency, direct the Federal Inland Revenue Service (FIRS) and various state boards in charge of internal revenue to grant full tax exemption to especially universities,” he said.
“Government should treat private universities as partners in national development and not taxable businesses.
“Nigeria must see education, not as a source of revenue, but a foundation of national greatness,” he said.
According to him, the educational institutions should be exempted from various taxes because their economic values exceed any revenue government could collect from taxing them.
Earlier, the Acting Vice-Chancellor (VC) of the institution, Prof. Oyesoji Aremu, said no fewer than 705 students across first and higher degree programmes graduated during the convocation.
Aremu added that 72 students had first class, 318 were in Second Class (Upper Division), while 223 students earned Second Class (Lower Division)
He also said that 40 students were in Third Class category and 52 graduands in the higher degrees.
According to him, students of the university will, henceforth, be awarded with additional certificate or diploma in Institute of Diploma Practice, Culture and Language Development along with their main field of study.
The VC said that such move was to give the students competitive knowledge edge in the labour market.
Aremu applauded the institution’s management for allowing 12 academic tuition-free programmes.
He said the university prioritised well-being and welfare of its staff in ensuring that their promotion was not delayed, adding that hard work was also recongnised.
In his remarks, the Chancellor of the university, Dr Yakubu Dogara, urged the graduands to uphold the noble name of the institution and be unwavering ambassadors of integrity.
Dogara, a former Speaker of the House of Representatives, further asked the graduands to innovate in a rapidly evolving world and to provide solutions to the pressing challenges facing the country and the world.
The chancellor reiterated his steadfast commitment to supporting the university in its mission to produce graduates ready to shape the future.
Similarly, Oba Aladetoyinbo Aladelusi, Deji of Akure, was conferred with honorary Doctor of Science in Public Administration, while Prince Roland Olawumi Omowa was conferred with Doctor of Science in Business Administration.
