Nigeria, Italy Launch $5bn Global Education Fund Drive at UNGA

Nigeria and Italy announced a joint effort on Wednesday to raise $5 billion for the Global Partnership for Education (GPE) during the 81st UN General Assembly in New York. The campaign, titled "A New Era for Education Financing," aims to expand access and improve teacher capacity globally.

President Bola Tinubu, in a video message, said the GPE initiative aligns with Nigeria's agenda to boost educational outcomes through increased investment. Vice President Kashim Shettima, representing Tinubu at the event, described education as an investment in Nigeria's economic future, productivity, and stability rather than a marginal expense.

“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 the administration has substantially increased education resources since 2023, citing reforms to strengthen basic education financing and expand foundational learning. He highlighted the Nigerian Education Loan Fund as a tool to widen access to higher education and link skills to employment.

To fund these efforts, Nigeria is looking beyond traditional budget allocations. Shettima noted that President Tinubu directed funds recovered by the Economic and Financial Crimes Commission, once legally cleared, to be channelled to the Education Loan Fund. The Federal Executive Council also approved using unclaimed dividends and dormant funds for the same purpose, pending legal requirements.