House Committee Investigates N123.48bn Education Tax Dispute

The House of Representatives Public Accounts Committee (PAC) is investigating a dispute between the Nigeria Revenue Service (NRS) and the Tertiary Education Trust Fund (TETFund) regarding the deduction of a four percent cost of collection on Education Tax, amounting to N123.48 billion. This issue arose during the committee's review of audit queries related to revenue collections and remittances.

NRS was represented by Executive Director Shettima Tamadi, while TETFund was represented by Director of Finance and Accounts Dr Gloria Olotu. TETFund argued that the four percent deduction should only apply to non-oil revenue, not the total Education Tax collected from both oil and non-oil sectors.

Olotu stated that discrepancies identified by the Auditor-General indicated excess deductions from 2012 to 2024 totaling N123,486,953,796.24. The NRS defended its position, claiming that the deductions were lawful under the NRS Act.

The committee decided to seek the legal opinion of the Attorney-General of the Federation on the matter.