THE Joint Admissions and Matriculation Board (JAMB) remitted ₦6 billion to the Nigerian government’s treasury out of nearly N23 billion it generated in 2024.
This was revealed in the Board’s weekly bulletin issued on Monday, January 6, by its spokesperson, Fabian Benjamin.
According to the statement, JAMB generated N22.9 billion (N22,996,653,265.25) in 2024.
Out of this amount, it remitted N6 billion (N6,034,605,510.69) as operating surplus to the government.
In addition, the Board noted that the N1,500 reduction in the cost of the Unified Tertiary Matriculation Examination (UTME) form fees for candidates, multiplied by the number of beneficiaries, raised the total remittance value to N9,013,068,510.69.
JAMB credited the surplus to its efficient management and successful conduct of the 2024 UTME.
The Board further noted that under the leadership of its registrar, Is-haq Oloyede, it had contributed over N50 billion to the nation’s treasury in the past seven years.
“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.
“From this amount, It expended N18,198,739,362.68 towards conducting examinations (UTME), paid service providers, and covering essential expenses, including staff claims amounting to N2,119,571,022.88,” the bulletin read.
It added that “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 Board remitted N2 billion as its interim surplus for the 2023 operating year to the Federal Government.
Benjamin said in a statement that more would be remitted as its operations for the year are completed.
The JAMB said it remitted N3.51 billion to the Federal Government as operating surplus for 2021.
Benjamin noted in a statement that the remittance was in line with Oloyede’s commitment to prudent management of public resources.
This was as the JAMB Registrar in 2022 stated that the Board remitted no less than N50 billion to the Federal Government since 2016.
He explained that the N50 billion was the surplus remaining after covering the expenses of conducting the examination.
He attributed the remittance to measures implemented for cost control, preventing financial leakages, and minimising corruption.
The registrar noted that the “humongous returns” stood in contrast to the approximately N52 million which represented the Board’s total remittance over its previous 40 years.
Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: umustapha@icirnigeria.com. He tweets @UsmanMustapha_M