Funding Education: A Case Of No Money Or No Interest? By Olabisi Deji-Folutile | Sahara Reporters

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OpEd: Funding Education: A Case Of No Money Or No Interest? By Olabisi Deji-Folutile | Sahara Reporters

had also advised Nigeria to channel more investment towards health, family planning and education as a means of human development to alleviate poverty on the continent. According to him, Nigeria is one of the most dangerous places in the world to give birth, with the fourth worst maternal mortality rate in the world ahead of only Sierra Leone, Central African Republic and Chad.

Well, it’s a vicious circle. Nigeria is already reaping the reward of what was sown in the past years. The kids have already been recruited as bandits and fighters. Perhaps, what the ex-President meant was that the situation would grow worse which in any case is a no-brainer. As far back as January, 2020, I wrote an article titled, ‘On Masari and child bandits in Katsina forest.

That is why smart countries make deliberate and intentional investments into their educational sector. Nigeria has many examples to follow across the world. So, this is not a case of anyone reinventing the wheel. Sweden spends $ 11, 400 per student from primary to tertiary education and devotes 7.3% of its GDP to education. This funding goes to both public and private educational institutions. No wonder the country enjoys 81.5% employment rate for all levels of education.

This is how it works. The Universal Basic Education Commission provides a sum of N500million to each state per annum to improve infrastructure at the basic education level. But, to access this fund, states are expected to provide a counterpart funding of N500million. The assumption is that there would be at least a minimum of N1bn intervention fund to every state per annum to improve on their basic education.

 

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