The Federal Government of Nigeria is in discussions with the World Bank for a $500 million loan aimed at improving basic education, with a focus on enhancing learning outcomes and reducing the number of out-of-school children.
According to the Programme Information Document (PID) obtained by Nairametrics, the loan falls under the World Bank’s HOPE for Quality Basic Education for All initiative. The project, expected to be formally approved by March 2025, seeks to tackle Nigeria’s educational challenges, particularly by expanding access to early childhood, primary, and junior secondary education.
The total cost of the initiative is projected at $554 million, with $500 million provided by the World Bank and the remaining $54 million funded through a Global Partnership for Education (GPE) grant.
The PID stated: “The HOPE-Education initiative will be financed by a $500 million World Bank IDA credit and a $54 million GPE grant. The World Bank, along with UNICEF, has been designated as one of two Grant Agents for implementing the System Transformation Grant (STG) of $107.59 million. Program oversight, design, and technical assistance for implementation will be coordinated between the two Agents.”
The initiative aligns with Nigeria’s Universal Basic Education (UBE) framework, aiming to address regional disparities and promote equitable access to education. It targets the country’s alarming number of out-of-school children, currently estimated at 17.1 million between the ages of 5 and 14.
A key focus will be on addressing the educational imbalance between northern and southern Nigeria, where school enrollment in the northern region remains significantly lower.
The Federal Ministry of Finance, in collaboration with the Federal Ministry of Education and the Universal Basic Education Commission (UBEC), will oversee the project’s execution. The loan will be used to enhance teacher quality through capacity-building programs, provide grants to community-based schools, and support infrastructure development.
This initiative is part of Nigeria’s broader Human Capital Development strategy, which seeks to build a skilled and productive workforce by 2030. Additional programs, such as the National Home-Grown School Feeding Programme, are expected to complement these efforts by easing the financial burden on families and increasing school enrollment.
