Nigeria and Italy have stepped up efforts to mobilise $5 billion for global education financing, co-hosting a high-level campaign in New York aimed at expanding investment in education and reaching hundreds of millions of children in developing countries
The initiative, under the Global Partnership for Education (GPE), received an immediate funding boost on Wednesday when Italy pledged €50 million for GPE programmes and interventions. Governments and donors participating in the event made commitments expected to support education for at least 370 million children globally.
The campaign was launched at the Multiply Possibility: A New Era for Education Financing high-level event on the margins of the 81st United Nations General Assembly in New York.
President Bola Tinubu, in a video message, said the GPE’s objectives were consistent with Nigeria’s education agenda, particularly efforts to expand access to quality education and strengthen teacher capacity.
The event brought together government leaders, development partners, multilateral institutions and education advocates, including United Nations Deputy Secretary-General Amina Mohammed and girls’ education campaigner Malala Yousafzai.
Shettima: Education is an economic investment
Representing President Tinubu at the UNGA, Vice President Kashim Shettima said Nigeria views education as an investment in economic productivity, human capital and long-term national development rather than simply another item of public expenditure.
“For Nigeria, education is not an expenditure at the margins of our development agenda. It is an investment in our economic future, national productivity, and the prosperity and stability of our people.”
Shettima said the Tinubu administration had increased resources for education while pursuing reforms aimed at improving basic education financing, foundational learning and access to tertiary and technical education.
He also highlighted the Nigerian Education Loan Fund (NELFUND) as part of efforts to expand access to higher education and strengthen the connection between education, skills, employment and enterprise.
Nigeria’s 2026 budget and subsequent government programmes have placed human-capital development among the administration’s stated priorities. The Federal Government has also launched the World Bank-supported HOPE-EDU programme, which is designed to strengthen foundational learning and support teachers.
Nigeria seeks broader sources of education finance
Shettima said Nigeria was also looking beyond conventional annual budget allocations to expand education financing.
According to him, President Tinubu has directed that funds recovered by the Economic and Financial Crimes Commission, once legally cleared and free from litigation, should be channelled to NELFUND.
He added that the Federal Executive Council had approved consideration of unclaimed dividends and dormant funds for the same purpose, subject to applicable legal requirements.
Shettima said the measures reflected Nigeria’s position that education financing requires mobilisation of responsible domestic resources alongside international development assistance.
“Domestic resources must remain the anchor, complemented by development assistance, concessional finance, philanthropy and innovative financing,” he said.
GPE seeks to multiply every dollar invested
The Nigerian government said its partnership with the World Bank and GPE through HOPE-EDU illustrates the potential of international financing to amplify domestic investment.
Shettima said the programme was expected to reach approximately 29 million children and 500,000 teachers in Nigeria.
At the global level, GPE’s financing model is designed to use donor contributions to unlock additional financing from development banks, the private sector and philanthropic organisations. GPE’s 2026–2030 investment case says a $5 billion campaign is intended to unlock a further $10 billion in co-financing, potentially generating $15 billion in total education investment.
The partnership says the financing would support education systems in partner countries at a time when development assistance for education is under pressure and the financing gap is widening.
Italy pledges €50m
Italy’s €50 million pledge was one of the clearest financial commitments emerging from the New York meeting.
Italy and Nigeria are co-hosts of the GPE financing campaign, reflecting growing cooperation between the two countries on education and human-capital development.
Italian Prime Minister Giorgia Meloni, in a video presentation, commended Nigeria’s efforts to improve educational outcomes and urged greater commitment from international partners to education in developing countries.
GPE’s investment case identifies Nigeria as a key partner in its global financing campaign and links education investment to long-term economic development, particularly in countries with large and rapidly growing young populations.
UN calls for stronger financing
UN Deputy Secretary-General Amina Mohammed said improvements in education outcomes would ultimately depend on the choices governments make, while urging international financial institutions to help countries create the fiscal space required to invest in education.
She particularly highlighted teacher training and motivation as critical components of education reform.
GPE Board Chair Jakaya Kikwete said the financing campaign was being driven by the decline in development assistance for education and the widening gap between available resources and what is required to improve education systems.
Malala Yousafzai, the girls’ education activist, called for greater collaboration among governments and international organisations, with particular attention to gender equality and the educational needs of girls in developing countries.
From aid to investment in human capital
For Nigeria, the campaign provides an opportunity to position education financing within a broader economic-development strategy.
The country’s youthful population represents a potential economic asset, but that potential depends on access to quality education, market-relevant skills and employment opportunities.
Shettima said the global response to declining aid should therefore focus on using limited international resources to mobilise substantially larger pools of capital.
“This is precisely why GPE matters,” he said. “GPE does not replace national investment; it multiplies it.”
The proposed $5 billion campaign therefore represents more than a fundraising target. Its central proposition is to combine domestic government spending, concessional finance, development assistance, philanthropy and private capital to expand the resources available for education.
For Nigeria, which is seeking to strengthen foundational learning while expanding access to tertiary and technical education, the outcome of the campaign could have implications well beyond the classroom—affecting the country’s future workforce, productivity and competitiveness.
