CBN Deputy Governor Makes Case For Nigeria's Education Sector

The Deputy Governor of the Central Bank of Nigeria (Financial System Stability), Aisha Ahmad has expressed worry that despite having the largest Gross Domestic Product of $480.48 billion (18.4 per cent) of Africa’s total GDP in 2021, public education has remained consistently underfunded in the country.

Ahmad on Saturday maintained that the implication of the education gap between most states in Northern Nigeria and their Southern counterparts portends grave danger for national development.

She raised the fears in Abuja during her lecture titled, “Can Nigeria develop without quality, inclusive education?” which she delivered at the first Global Reunion and Annual General Meeting of Old Students Association of Federal Government Girls’ College, Bida, organised to commemorate the 48th anniversary of the institution.

According to her, Nigeria has been suffering from the consequences of poor-quality education, which was evident in the extremely high unemployment of educated youths.

The CBN Deputy Governor said that quality and inclusive education remains a precursor to economic mobility, growth and development.

“About 60 per cent or 137 million adolescents are in school but not learning.

"Currently, 103 million youth worldwide lack.

She said Nigeria was far from meeting the Sustainable Development Goal Four which seeks to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all, regardless of socioeconomic status, gender, race, religion or physical capabilities.

“Quality education is a precursor to economic development.

"According to UNICEF, one in every five of the world’s out-of-school children is in Nigeria and of the 10.5 million Nigerian children that are out of school, about half are girls.

“The COVID-19 pandemic also exacerbated the disparities in education, causing more than 1.6 billion children and youth to be out of school in 161 countries.

"About 60 per cent or 137 million adolescents are in school but not learning.

"Currently, 103 million youth worldwide lack basic literacy skills and more than 60 per cent are female.

"The challenges with proficiency are evident in Nigeria.

“According to WAEC, only 76.36 per cent of candidates passed the 2022 exam (achieving credits or above in at least five (5) subjects, including English Language and Mathematics).

"This is a decrease when compared to 81.7 per cent recorded in 2021.

"However, it is impressive to note that over 51 per cent of those who passed were female.

“We must admit that the picture of inclusive quality education is bleaker in Northern Nigeria.

"There is higher proficiency level in the south. In the North, we see schools that has to relocated from the rural areas to the city due to insecurity. The funding too is also poor.

“The trend shows that from 2016 to 2022, the highest allocation to education sector was 8.4 per cent which does not meet UNESCO’s recommendation that developing nations should allocate up to 15-20 per cent of their annual budget to public education.”

While stressing the need for government to focus on early education as a foundation for further learning and proficiency in numeracy, literacy and digital skills, she called for the review of curriculum to teach skills relevant for the 21st century.

“About 60 per cent or 137 million adolescents are in school but not learning. Currently, 103 million youth worldwide lack basic literacy skills, and more than 60 per cent are female.

"The challenges with proficiency are evident in Nigeria.

“According to WAEC, only 76.36 per cent of candidates passed the 2022 exam (achieving credits or above in at least five (5) subjects, including English Language and Mathematics).

"This is a decrease when compared to 81.7 per cent recorded in 2021.

"However, it is impressive to note that over 51 per cent of those who passed were female.

“We must admit that the picture of inclusive quality education is bleaker in Northern Nigeria.

"There is higher proficiency level in the south. In the North, we see schools that has to relocated from the rural areas to the city due to insecurity. The funding too is also poor.

“The trend shows that from 2016 to 2022, the highest allocation to education sector was 8.4 per cent which does not meet UNESCO’s recommendation that developing nations should allocate up to 15-20 per cent of their annual budget to public education.”