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Cleric canvasses tax exemption, financial assistance to private, faith-based varsities

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President, Christ Apostolic Church (CAC) Worldwide and Chairman, Board of Trustees (BOT), Joseph Ayo Babalola University (JABU), Pastor Abraham Akinosun has urged federal and state governments to extend financial assistance to private and faith-based institutions in Nigeria. 

He also said universities and citadel of learnings should not be subjected to tax payment since they are not profit-making institutions. 

Speaking at the 10th Convocation ceremony of JABU, in Ikeji-Arakeji, Osun State he said: “The task of running a university is capital intensive; hence government should come to the aid of proprietors of private universities. 

He argued that a good number of the private universities spread across the nation are not for profit while some may be for-profit, adding that the government should exempt them from tax burdens. 

Akinosun, alongside the Vice-Chancellor, Prof. Kola Sonaike, who noted that entrepreneurial skills is mandatory for their students to have a skill before graduation, implored the graduating students to “remember, to whom much is given, much is expected.”

The VC disclosed that JABU offers a discount between 30 to 60 percent on tuition to help indigent students.

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