Italy Pledges €50m as Nigeria Backs $5bn Global Education Fund
Nigeria and Italy have stepped up efforts to mobilise $5bn for global education financing, as governments and development partners seek new funding to improve access to learning in developing countries.
The two countries are co-hosting the Global Partnership for Education’s financing campaign, with Italy pledging €50m towards GPE programmes and interventions.
President Bola Tinubu said the initiative was consistent with Nigeria’s efforts to improve educational outcomes through greater access to learning and investment in teacher development.
Tinubu spoke in a video message on Wednesday at the “Multiply Possibility: A New Era for Education Financing” high-level event held on the sidelines of the 81st session of the United Nations General Assembly in New York.
Vice-President Kashim Shettima, who is representing Tinubu at the UN gathering, said Nigeria regarded education as an investment in economic growth, productivity and national stability rather than simply another area of government expenditure.
“For Nigeria, education is not an expenditure at the margins of our development agenda. It is an investment in our economic future, national productivity, and the prosperity and stability of our people,” Shettima said.
He said the Tinubu administration had increased resources for education while pursuing reforms aimed at strengthening basic education financing, foundational learning and access to tertiary and technical education.
Shettima also cited the Nigerian Education Loan Fund as part of the government’s efforts to widen access to higher education and strengthen links between education, skills and employment.
The vice-president said Tinubu had directed that liquid funds recovered by the Economic and Financial Crimes Commission, once legally cleared and no longer subject to litigation, should be channelled to the student loan scheme.
He added that the Federal Executive Council had approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to legal requirements.
Shettima said Nigeria’s partnership with the World Bank and GPE through the HOPE-EDU programme was expected to reach about 29 million children and 500,000 teachers.
He said the $5bn GPE campaign was intended to complement domestic education spending and attract additional financing for participating countries.
“Domestic resources must remain the anchor, complemented by development assistance, concessional finance, philanthropy and innovative financing,” he said.
GPE says its wider financing campaign, co-hosted by Nigeria and Italy, is seeking $5bn and aims to mobilise an additional $10bn in co-financing for education programmes.
Italy pledged €50m to GPE programmes at the New York event, where governments and donors also announced commitments aimed at supporting the education of hundreds of millions of children.
UN deputy secretary-general Amina Mohammed urged international financial institutions to help countries create the fiscal space required to improve education, including greater investment in teacher training.
Education activist Malala Yousafzai also called for stronger international cooperation and greater attention to gender equality and the educational needs of girls, particularly in developing countries.