Why government should borrow to fix education

Education under the federal and state governments is mainly financed from domestic revenues as well as grants, allocations and philanthropists contributions but with dwindling revenues, authorities have resorted to approving billions of naira in borrowing to fund the sector. About a week ago, the federal government pledged to release N220 billion to states with a high number of out-of-school children.

Minister of State for Education Chukwuemeka Nwajiuba, who made the assertion in Yola, the Adamawa State capital, at the launch of the Better Education Service Delivery for All (BESDA) programme in the state said, “The fund is a credit facility from the World Bank to Nigeria”.  It is disbursed to the states as grant to fight the scourge of out-of-school children as well as strengthen basic education in their respective jurisdictions. Nwajiuba stated that the objective of the BESDA programme was to ensure that all out-of-school kids accessed and completed education, improved literacy and strengthen accountability at the basic education level.

Read more: https://www.dailytrust.com.ng/why-govts-should-borrow-to-fix-education.html