The Minister of Education, Dr. Tunji Alausa, made the announcement on Tuesday during the inaugural Federal Ministry of Education Private Sector Breakfast Convening in Lagos. He explained that the figure is based on current per capita spending necessary to address the educational needs of children outside the formal school system.
Regional Disparities Highlight Urgent Need
Dr. Alausa noted that 25 per cent of children aged 5-14 are out of school nationwide, with the figure rising to 41 per cent in the North-East and North-West regions. While the government has made strides through the Nigeria Education Sector Renewal Initiative (NESRI), he emphasized that substantial additional investment is needed to complement public efforts.
“The challenges in the Nigerian education sector present a marked opportunity to increase access, improve quality, and enhance systems,” the minister said. He added that education remains a central pillar of the “Renewed Hope” development plan, which targets a $1 trillion economy by 2030.
Investments in Skills Development
To address Nigeria’s skilled labor gap, the government has disbursed N10.6 billion to Technical and Vocational Education and Training (TVET) centres nationwide and paid N3.4 billion to trainees. So far, 1.3 million applications were received for the TVET programme, with 160,000 students matched to training centres and 72,000 currently enrolled using verifiable biometric data.
The government has also invested over N156 billion to rehabilitate 18 medical schools and several engineering schools, including N70 billion on laboratory and technology workshop upgrades and N100 billion on new hostels across 50 institutions.
Additionally, the Student Venture Capital Grant initiative supports innovation by STEMM (Science, Technology, Engineering, Mathematics, and Medicine/Medical Science) students. Dr. Alausa reported that an equity-free grant of N50 million has been set aside, with 65 students shortlisted for the program.
International Partnerships and Funding Initiatives
Dr. Alausa revealed that Nigeria is partnering with the Italian government to organize an educational conference expected to raise $15 billion to support foundational learning in 90 countries. The event will generate $5 billion in direct funding, supplemented by $10 billion in catalytic contributions.
Private Sector Engagement
The minister urged private sector leaders to align resources with national education priorities through the upcoming Education Sector Wide Approach (ESWA), which promises transparent reporting and strong governance. Minister of State for Education, Prof. Suwaiba Ahmad, described the convening as a strategic platform to deepen collaboration with the private sector.
“Government alone cannot achieve the scale of transformation required. The private sector remains a critical partner in driving innovation, expanding infrastructure, and supporting skills development,” she said.
NESRI Achievements and Funding Tools
Under NESRI, the ministry has achieved notable milestones:
- Integration of 1 million children into formal education
- Training of 1,400 Tsangaya teachers for Almajiri education
- Mapping 32 million students and 221,000 schools across 21 states to improve data and digitization
- Disbursing N128 billion in institutional fees through the Nigeria Education Loan Fund, benefiting over 1.1 million students
To bridge funding gaps, the government is promoting the Global Partnership for Education (GPE) Multiplier, which matches private contributions 1-to-1 with GPE and partner funds.
Evidence presented at the roundtable highlighted that each additional year of schooling in Nigeria leads to a 5.7% increase in earnings and a 6% increase in productivity, underscoring the economic urgency of the proposed investments.