Yesterday in Abuja, the Registrar of the Joint Admission and Matriculation Board, Professor Ishaq Oloyede told the Senate that N4.26 billion will be remitted into the federation account, this year, as of the N7.8 billion it remitted last year.
Speaking before Senator Jibrin Barau, APC, Kano North-led Senate Committee on Tertiary Education and TETFUND for the 2018 Budget defense, Prof Oloyede noted that the agency is expecting to generate N14.691billion as Internally Generated Revenue but that N7.744 billion of the money would be used for overhead cost items while N2.683 billion is allocated for capital projects. The JAMB Registrar explained that the examination body was given zero allocations for overheads and capital expenditure components of the 2017 budget, adding that with the 2018 budget proposal, the examination body plans to fund the two components from its projected IGR. Senators disagreed on whether the huge remittance JAMB made into the federation account last year deserved commendation. Furthermore, Prof Oloyede said, “If we remove N7.744bn estimated for overhead cost and N2.683bn earmarked for capital project from the projected N14.691bn IGR, the balance surplus would be N4.262bn to be remitted into the federation account as against N7.8 billion remitted last year.”