ABUJA – Senate has asked the federal government to stop funding government owned universities lamenting that many institutions recklessly spend their Internally Generated Revenue (IGR).
The Chairman Senate Committee on finance, Senator Solomon Olamilekan during interactive session with revenue generating agencies on 2023-2025 MTEF/FSP, revealed that some universities generate N17 billion annually and spent all despite that Federal government is taking care of their both recurrent and capital expenditures.
He added that, it is time for the Nigerian students to begin to ask salient questions to their various school authorities on how funds generated by schools and institutions internally are spent.
According to him, Federal government should allow stop funding of government owned Universities because some these Universities generate up to N17 billion and spent everything without justification.
“It is time for students to also ask the Universities how they spent money collected from them by these Universities.
He further stated that if the lecturers can fix their salaries the government should allow the universities to fix their school fees and be autonomous.
He lamented that the ASUU ‘s decision to embark on strike for over seven months because the government failed to meet their demands is regrettable.