Nigeria and Italy back $5bn drive to expand global education funding

Nigeria and Italy have strengthened cooperation on a Global Partnership for Education campaign aimed at mobilising $5bn for education financing worldwide, officials said at a high-level event in New York. President Bola Tinubu said the partnership’s objectives align with Nigeria’s focus on improving educational outcomes through greater access and teacher capacity building. His remarks were delivered in a video message at the event, according to a statement by Vice-President Kashim Shettima’s media aide, Stanley Nkwocha.

Shettima, representing Tinubu at the gathering, described education as an investment in Nigeria’s economic future, productivity and social stability. He said the administration had increased resources for education since 2023 and was pursuing reforms covering basic education, foundational learning, tertiary education and technical training. The vice-president said the Nigerian Education Loan Fund was widening access to higher education and connecting education with skills, employment and enterprise.

He added that Tinubu had directed that funds recovered by the Economic and Financial Crimes Commission, once legally cleared and free of litigation, be channelled to the loan fund. The Federal Executive Council had also approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to legal requirements. Nigeria’s partnership with the World Bank and GPE through HOPE-EDU is expected to reach about 29 million children and 500,000 teachers, Shettima said.

He stressed that domestic resources should remain the foundation, supported by development assistance, concessional finance, philanthropy and other funding. Italian Prime Minister Giorgia Meloni praised Nigeria’s education efforts, while UN Deputy Secretary-General Amina Mohammed urged governments and international financial institutions to help create fiscal space for education and teacher development. GPE board chair Akaya Kikwete said the campaign responded to falling development assistance and a widening financing gap.