JAMB generates N22.9b revenue from students, makes effective remittance of N9b to treasury
A total N22,996,653,265.25 revenue was generated in 2024 by the Joint Admissions and Matriculation Board (JAMB), out of which it remitted N6,034,605,510.69 to the federal treasury, the body has claimed.
JAMB made the money from conducting examination for Nigerian students seeking admission into tertiary institutions.
The latest weekly bulletin released by JAMB Public Communication Adviser, Fabian Benjamin, disclosed the sums, saying the JAMB board noted that the reduction of N1,500 in the Unified Tertiary Matriculation Examination (UTME) form fees, multiplied by the number of candidates, increased the effective remittance to N9,013,068,510.69.
JAMB also disclosed that
- Remittance forms part of its operating surplus following the conduct of the 2024 UTME.
- It has contributed more than N50 billion to the national treasury in the past seven years under its Registrar/Chief Executive Officer, Is-haq Oloyede, a professor.
“As we reflect on 2024, it is essential to uphold our commitment to transparency by sharing our financial performance for the year. In 2024, the board generated a total income of N22,996,653,265.25,” the bulleting said.
“In 2024, the board remitted N6,034,605,510.69 to the government. When combined with the N1,500 reduction per form for candidates multiplied by the number of candidates that benefited in 2024, the total remittance by JAMB would amount to N9,013,068,510.69.”
– The PUNCH.
Read also:
WAEC creates room for candidates to rewrite May/June exam in January, beginning from 2025
