Nigeria, Italy Join Forces to Mobilise $5bn for Global Education Financing

Nigeria and Italy have strengthened their collaboration on a proposed Global Partnership for Education (GPE) financing campaign aimed at mobilising $5 billion to support education financing worldwide.

The partnership was highlighted during the Multiply Possibility high-level event, themed “A New Era for Education Financing,” held in New York on the margins of the 81st Session of the United Nations General Assembly.

President Bola Tinubu, in a video message, said the GPE’s objectives align with Nigeria’s education priorities, particularly efforts to improve learning outcomes through greater access to education and investment in teacher capacity.

Vice President Kashim Shettima, who represented Tinubu at the event, described education as an investment in Nigeria’s economic future, national productivity and the prosperity and stability of its citizens.

Shettima said the Tinubu administration had increased resources allocated to education since 2023 while pursuing reforms aimed at strengthening basic education financing, expanding foundational learning and improving access to tertiary and technical education.

He said Nigeria was also looking beyond traditional budgetary allocations. According to him, Tinubu has directed that funds recovered by the Economic and Financial Crimes Commission, once legally cleared and free from litigation, be channelled to the Nigerian Education Loan Fund. The Federal Executive Council has also approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to applicable legal requirements.

Shettima said Nigeria’s partnership with the World Bank and GPE through the HOPE-EDU programme is expected to reach about 29 million children and 500,000 teachers across the country. He said international financing should complement rather than replace domestic investment in education.

The Vice President said the global campaign should go beyond fundraising and create a stronger partnership involving national governments, international institutions and responsible financing. At the event, Italy pledged €50 million towards GPE programmes and interventions, while governments and donors announced contributions aimed at supporting the education of at least 370 million children globally.