Nigeria and Italy have strengthened their collaboration to implement the proposed Global Partnership for Education (GPE) financing campaign, which aims to mobilize $5 billion for education financing worldwide. This development was announced on the sidelines of the 81st Session of the United Nations General Assembly in New York, United States. The campaign seeks to improve educational outcomes by investing in access and capacity building for teachers.
President Bola Tinubu stated that the GPE vision aligns with Nigeria's agenda to improve educational outcomes by investing in access and capacity building for teachers. He made this disclosure during the Multiply Possibility High-level event tagged, “A New Era for Education Financing”. Tinubu commended stakeholders in the Global Partnership for Education (GPE) for their efforts in accelerating education financing globally.
Vice President Kashim Shettima, representing President Tinubu at the global gathering, emphasized that education is an investment in Nigeria's economic future, productivity, and the prosperity and stability of its citizens. He noted that education is not merely an expense at the margins of the country's development agenda. Shettima highlighted that since President Tinubu assumed office in 2023, the administration has substantially increased resources devoted to education.
The Vice President also mentioned that the administration is pursuing reforms to strengthen basic education financing, expand foundational learning, and improve access to tertiary and technical education. Through the Nigerian Education Loan Fund, the government is widening access to higher education while strengthening the link between education, skills, employment, and enterprise. President Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission be channeled to the Nigerian Education Loan Fund.
The Federal Executive Council (FEC) recently approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to relevant legal requirements. This demonstrates the nation's conviction that financing education needs mobilization of every responsible and lawful domestic source available. Nigeria is looking beyond traditional budgetary allocations to fund education.
The country's alliance with the World Bank and GPE through HOPE-EDU is expected to reach approximately 29 million children and 500,000 teachers across Nigeria. Vice President Shettima underscored the importance of international partnership in achieving education goals. He emphasized that this is precisely why GPE matters.
Meanwhile, Minister of Finance and Coordinating Minister for the Economy, Wale Edun, and Minister of Education, Tahir Mamman, are also attending the UNGA 81. The Minister of State for Education, Yusuf Sununu, and the Executive Secretary of the Nigerian Educational Loan Fund, Akintunde Sawyerr, are also part of Nigeria's delegation.
Key points
- Nigeria and Italy have teamed up to push for $5bn in global education funding.
- The Nigerian government has increased resources devoted to education since President Tinubu assumed office in 2023.
- The GPE vision aligns with Nigeria's agenda to improve educational outcomes by investing in access and capacity building for teachers.
