The Federal Government of Nigeria is actively pursuing a $500 million loan from the World Bank aimed at improving basic education across the country. This initiative seeks to enhance learning outcomes and reduce the number of out-of-school children, as outlined in the Programme Information Document (PID) for the proposed project.
According to reports by Naira Metrics, this loan is part of the World Bank’s HOPE for Quality Basic Education for All initiative. The initiative focuses on addressing the educational challenges facing Nigeria, particularly the significant number of children currently not in school.
Scheduled for formal approval in March 2025, this project is a crucial element of Nigeria’s broader education reform strategy. The total cost of the initiative is estimated at $554 million, which includes $500 million funded by the World Bank and an additional $54 million provided through a grant from the Global Partnership for Education (GPE).
This strategic move underscores the government’s commitment to enhancing the quality of education and ensuring that all Nigerian children have access to learning opportunities.
