AGS NEWS – The Federal Government is in talks with the World Bank to secure a $500 million loan to support basic education in Nigeria.

The loan is part of the World Bank’s HOPE for Quality Basic Education for All initiative, aimed at improving learning outcomes and reducing the number of out-of-school children.

According to the Programme Information Document, the total cost of the project is $554 million, with $500 million from the World Bank and $54 million from the Global Partnership for Education grant.

The project, expected to be approved by March 2025, aligns with Nigeria’s Universal Basic Education framework and focuses on early childhood, primary, and junior secondary education.

The initiative seeks to improve teaching quality, support community-based schools, and provide grants for better school management and infrastructure.

It also aims to reduce educational disparities, particularly in Nigeria’s northern regions, where enrolment lags behind the south.

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The Federal Ministry of Finance will lead the project in collaboration with the Federal Ministry of Education and the Universal Basic Education Commission.

The loan is part of the Nigerian government’s broader Human Capital Development strategy, which aims to create an educated workforce by 2030.