Brief History of TETFUND

Tertiary Education Trust Fund, abbreviated as TETFUND, is a scheme established by the Federal Government of Nigeria in 2011 to disburse, manage, and monitor education tax to government-owned tertiary institutions in Nigeria.

The TETFUND scheme was formed as a product of the Education Tax Act of 1993. This Act repeals the Education Tax Act Cap. E4, Laws of the Federation of Nigeria, 2004 and Education Tax Fund Act No. 17, 2003 and establishes the Tertiary Education Trust Fund charged with the responsibility for imposing, managing and disbursing the tax to public tertiary institutions in Nigeria. Before the establishment of the scheme in 2011, government-owned tertiary institutions were poorly funded. The scheme was designed to improve the management of funds disbursed to these institutions.

Source: Tetfund

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