Education Taxes Will Hurt Nigeria’s Future – Ayorinde
By TAYO TAIWO (T. T.) OLUWOLE
THE founder of Achievers University, Owo, Prof. Bode Ayorinde, has appealed to President Bola Tinubu and the National Assembly to exempt the education sector from taxation, warning that imposing taxes on schools and universities would hinder national development.
Speaking at the 15th convocation and 18th foundation anniversary of the institution on Saturday in Owo, Ayorinde said education remains central to national transformation and should be treated as a public good rather than a revenue source.
Private Universities Not Profit-Driven
Ayorinde, who is also the Pro-Chancellor and Chairman of the Governing Council, noted that private universities were established to complement government efforts, not to generate profit.
“To tax education is to halt scholarship schemes, eliminate free tuition programmes, and increase fees in high-demand courses,” he said, warning that such measures would restrict access to quality education for many Nigerians.
Call for Policy Reform
He stressed that any surplus generated by private universities is reinvested in infrastructure, research, and development projects.
According to him, taxing educational institutions amounts to “taxing knowledge, enlightenment, and the future of young Nigerians,” a move he described as counterproductive and inconsistent with global best practices.
Ayorinde cited countries such as the United States, Canada, the United Kingdom, and South Africa, where universities enjoy tax exemptions to support research and innovation.
He urged the Federal Government to direct the Federal Inland Revenue Service (FIRS) and state revenue boards to grant full tax exemptions to universities, adding that education’s long-term economic value far outweighs any short-term tax revenue.
Convocation Highlights
Earlier, the Acting Vice-Chancellor, Prof. Oyesoji Aremu, announced that 705 students graduated during the convocation, including 72 first-class graduates. He added that students would now receive additional diplomas in Practice, Culture, and Language Development to enhance employability.
