London Summit: Nigeria Expects $125m To Develop Education Sector – Minister
Nigeria is expected to receive the sum of $125 million to boost the education sector.
The Minister of State for Education, Chukwuemeka Nwajiuba, disclosed this on Tuesday.
The money forms part of funds being disbursed to countries at the Education Summit which took place in London, the United Kingdom last week.
“$125 million will be coming to Nigeria,” said Nwajiuba who was a guest on Channels Television’s Politics Today.
“We thank the President for showing up because his presence made all the difference. This is the largest Nigeria has ever gotten from this summit. It is a fantastic one for us.
“We also have the Permanent Secretary in the Ministry of Education who is going to be on the board who is going to then make sure that we allocate the money to states where we have our biggest problems.”
President Muhammadu Buhari had during the summit, pledged to increase the budget for the education sector by as much as 50 percent over the next two years.
In the long term, he promised that budgetary allocation to the sector would witness a progressive increase to about 100 percent in the next four years.
The President made the commitment last Wednesday in a document titled, ‘Heads of State Call to Action on Education Financing Ahead of the Global Education Summit,’ his Special Adviser on Media and Publicity, Femi Adesina, said in a statement.
“We commit to progressively increase our annual domestic education expenditure by 50 percent over the next two years and up to 100 percent by 2025 beyond the 20% global benchmark,” he said.