NIGERIA, ITALY STRENGTHEN PARTNERSHIP TO MOBILISE $5BN FOR GLOBAL EDUCATION

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Nigeria and Italy have strengthened collaboration towards the implementation of the proposed Global Partnership for Education financing campaign aimed at mobilising $5bn to support education financing worldwide.

President Bola Tinubu said the GPE initiative aligns with Nigeria’s agenda of improving educational outcomes through increased access and investment in teacher capacity development.

Tinubu stated this on Wednesday in New York, United States, during the Multiply Possibility high-level event, themed, “A New Era for Education Financing,” held on the sidelines of the 81st Session of the United Nations General Assembly.

The President, who spoke through a video message, commended stakeholders in the Global Partnership for Education for their efforts to accelerate education financing globally.

Vice President Kashim Shettima, who represented Tinubu at the event, said education should be regarded as an investment in Nigeria’s economic future, productivity, prosperity and stability rather than an expenditure on the margins of the country’s development agenda.

“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 since 2023 increased resources allocated to education while pursuing reforms aimed at strengthening basic education financing, expanding foundational learning and improving access to tertiary and technical education.

Shettima also said the Nigerian Education Loan Fund was being used to widen access to higher education while strengthening the relationship between education, skills, employment and enterprise.

According to him, the Federal Government is also exploring sources beyond traditional budgetary allocations to finance education.

He disclosed that Tinubu had directed that funds recovered by the Economic and Financial Crimes Commission, once legally cleared and free from litigation, should be channelled to the Nigerian Education Loan Fund.

The Vice President added that the Federal Executive Council had recently approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to relevant legal requirements.

He said the measures demonstrated Nigeria’s commitment to mobilising responsible and lawful domestic sources to finance education.

Shettima also highlighted Nigeria’s partnership with the World Bank and GPE through HOPE-EDU, saying the programme was expected to reach approximately 29 million children and 500,000 teachers across the country.

“This is precisely why GPE matters. GPE does not replace national investment; it multiplies it. The ambition before us is to mobilise US$5 billion for GPE and, through that investment, unlock additional financing for education in partner countries,” he said.

The Vice President stressed that domestic resources must remain the foundation of education financing, complemented by development assistance, concessional finance, philanthropy and innovative financing.

He said Nigeria’s youthful population could become one of the country’s greatest economic assets if young people had access to quality education, relevant skills and meaningful opportunities.

Shettima called for what he described as “smarter multilateralism” in response to declining global aid, urging stakeholders to use limited international resources to leverage larger investments in education.

He also urged participants to make the campaign more than a fundraising exercise, describing it as an opportunity for a renewed commitment to human capital development involving national leadership, international partnerships and responsible financing.

Shettima expressed Nigeria’s appreciation to the Italian government and GPE for co-hosting the campaign, stressing that Nigeria was participating not only to seek greater international investment in education but also to demonstrate its own commitment to the sector.

In a video presentation, Italian Prime Minister Giorgia Meloni praised Tinubu’s leadership and Nigeria’s efforts to improve educational outcomes across all levels.

She urged partners in the global alliance to demonstrate greater commitment towards reversing the decline in education financing in developing countries.

The UN Deputy Secretary-General, Amina Mohammed, also called for increased support for education financing in developing countries.

Mohammed urged governments to make education a priority in their policy choices and called on international financial institutions to support countries committed to improving educational outcomes by creating the fiscal space required for such investments.

She also highlighted the importance of teacher training and motivation in achieving better educational outcomes.

The Chair of the GPE Board of Directors, Akaya Kikwete, said accelerating education financing was critical to advancing human rights, security and peace.

He said the GPE campaign was driven by the decline in development assistance for education and the widening financing gap facing the sector globally.

Speaking at the event, girls’ education activist Malala Yousafzai called for stronger collaboration in mobilising ideas and resources to improve education outcomes.

She urged governments and multilateral organisations to commit more resources towards gender equality in education and address the specific needs of girls, particularly in developing countries.

Governments and donors at the high-level event made contributions towards the education of at least 370 million children globally.

The Italian government pledged €50m to support GPE programmes and interventions.