Nigeria and Italy have teamed up to spearhead a new global campaign seeking to raise $5 billion to strengthen education systems around the world amid declining international aid for the sector.
The two countries launched the initiative at a high-level event, titled “Multiply Possibility: A New Era for Education Financing,” held on the sidelines of the 81st Session of the United Nations General Assembly in New York.
President Bola Tinubu, who addressed the gathering through a video message, said the objectives of the Global Partnership for Education (GPE) were consistent with his administration’s efforts to expand access to education and improve teacher training in Nigeria.
Vice President Kashim Shettima, who represented Mr Tinubu at the UNGA, told participants that Nigeria regarded education as a strategic investment in its economy and the long-term wellbeing of its citizens.
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“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,” Mr Shettima said.
Mr Shettima also highlighted some of the reforms introduced by the Federal Government since 2023 to expand access to education, including the establishment of the Nigerian Education Loan Fund (NELFUND).
The fund provides financial support for students pursuing higher education and technical and vocational training.
According to the vice president, the government is also exploring alternative sources of funding to meet its education commitments without depending entirely on annual budgetary allocations.
He said recovered assets from the Economic and Financial Crimes Commission (EFCC), once cleared of legal restrictions, could be channelled into NELFUND.
The government is also considering the use of unclaimed dividends and dormant bank accounts to support student financing, following approval by the Federal Executive Council, subject to the necessary legal provisions.
Mr Shettima said partnerships with international institutions would further expand the reach of Nigeria’s education interventions.
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He cited the World Bank and GPE-supported HOPE-EDU programme, which is expected to benefit about 29 million children and 500,000 teachers across the country.
Italy pledges €50m to education partnership
Italian Prime Minister Giorgia Meloni, who co-hosted the event, praised Nigeria’s efforts to prioritise education and called for greater international support to address declining education outcomes in developing countries.
Italy subsequently pledged €50 million towards GPE interventions as part of the global financing campaign.
Other speakers at the event also stressed the need for increased and more strategic investment in education.
UN Deputy Secretary-General Amina Mohammed called on international financial institutions to help countries create the fiscal space required to invest more in education.
She said improving education systems would require greater attention to teachers, including their training and motivation.
The Chair of the GPE Board, Jakaya Kikwete, said declining international aid had made it increasingly important for governments and development partners to mobilise additional resources for education.
He described education as central to security, human rights and peace.
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Nobel laureate and girls’ education campaigner Malala Yousafzai also urged governments and international organisations to ensure that gender equality remained central to education financing, with particular attention to the needs of girls.
The event ended with financial commitments from governments and development partners aimed at supporting education for at least 370 million children worldwide.
