The Pro-Chancellor of Achievers University, Owo, Ondo State, Prof. Bode Ayorinde, has called for the exemption of educational institutions,a particularly universities, from all forms of taxes, stressing that the burden is stifling the growth of the education sector.

While describing education as an investment in human capital and not merely a social service, Ayorinde stressed that taxing education will discourage investment in the sector, which he described as critical, emphasising that putting a tax burden on universities is a national misstep.

According to the Pro-Chancellor, who stated this during the 15th convocation and 18th founder’s day ceremonies of the institution over the weekend, investors interested in establishing schools or universities will be discouraged if their social investments are treated like commercial enterprises.

Ayorinde, who is the Chairman of the Governing Council of the institution, appealed to the federal government to, 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 all educational institutions, especially universities.

With the Pro-Chancellor stating that taxation undermines research, innovation, and knowledge production, he maintained that taxing education will contradict National Development Goals, adding that no nation can industrialise without investing heavily in education.

He maintained that countries that value the strategic importance of education treat universities as partners in development, not as revenue-generating enterprises.

“The harassment of the task force of the 774 local governments on emblems, radio and billboard tax, to the heavy personal tax levied on proprietors of educational institutions and then the company income tax, value added tax (VAT), development levy, education tax, etc. These taxes eat deeply into over 40% of the tuition fees that the tax authorities classify as revenues of educational institutions tagged as “companies”. What are we producing, ladies and gentlemen?

“Most disturbing is the new development tax introduced by the 2025 Nigerian tax reforms. Two per cent (2%) of the development levy, as it is described, goes to TETFUND, an organisation that, since its inception, has restricted and continues to restrict its funding activities to public higher institutions only. By this development, students of private institutions are to be taxed in order to fund public institutions.

“Mr President and the National Assembly should please be informed and guided that an attempt to impose taxes on educational institutions is to tax knowledge, tax enlightenment, tax opportunities, and tax the future of young Nigerians. It will be counterproductive and contrary to global best practices,” Ayorinde stated.

Meanwhile, he urged the graduating students of the university to always endeavour to exhibit courage and determination to succeed as well as shun social vices, “including the ravaging time bomb, the drug menace.

“Achievers University has equipped you with knowledge and character. May you rise as leaders with a high sense of integrity, who will make your family proud and build a prosperous Nigeria, which we all dream of.”

On his part, the acting vice chancellor of the institution, Prof. Oyesoji Aremu, who disclosed that no fewer than 72 of the 705 graduands bagged first-class degrees, praised their resilience and determination, noting that their achievements reflect the university’s robust academic programmes and supportive environment.

Meanwhile, the Deji of Akure, Oba Aladetoyinbo Aladelusi, former Nigerian Ambassador to the Central African Republic, Col. Roland Omowa (Rtd), and Chairman of Jemmtek Resources Ltd, Folajimi Adetula, were awarded honorary degrees by the institution.