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 partnership was announced during the 81st Session of the United Nations General Assembly in New York, United States. The GPE vision aligns with Nigeria's agenda to improve educational outcomes by investing in access and capacity building for teachers.
President Bola Ahmed Tinubu stated that the GPE vision aligns with Nigeria's agenda, which aims to improve educational outcomes by investing in access and capacity building for teachers. He made this statement in a video message during the Multiply Possibility High-level event tagged: "A New Era for Education Financing". The event was held on the margins of the ongoing 81st Session of the United Nations General Assembly.
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. The Vice President's statement was made through his spokesman, Stanley Nkwocha.
Since President Bola Ahmed Tinubu assumed office in 2023, the Administration has substantially increased resources devoted to education, while pursuing reforms to strengthen basic education financing, expand foundational learning, and improve access to tertiary and technical education. The Nigerian Education Loan Fund has been established to widen access to higher education, while strengthening the link between education, skills, employment, and enterprise.
To further boost education financing, President Tinubu has directed that liquid funds recovered by the Economic and Financial Crimes Commission, once legally cleared and free from litigation, 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 the relevant legal requirements.
Nigeria is also looking beyond traditional budgetary allocations to finance education. The country has alliances with the World Bank and GPE through HOPE-EDU, which is expected to reach approximately 29 million children and 500,000 teachers across Nigeria. The Vice President underscored the importance of international partnership in achieving education goals.
The Global Partnership for Education (GPE) aims to mobilize $5 billion to unlock additional financing for education in partner countries. The partnership does not replace national investment; it multiplies it. Key stakeholders, including Nigeria and Italy, are working together to achieve this ambitious goal and improve education outcomes globally.
Key points
- Nigeria and Italy have partnered to implement the Global Partnership for Education financing campaign, aiming to mobilize $5 billion for education worldwide.
- The partnership aims to improve educational outcomes by investing in access and capacity building for teachers.
- Nigeria has increased resources devoted to education and is pursuing reforms to strengthen basic education financing and improve access to tertiary and technical education.
