AfDB invests $171m in Nigerian education
\n…To tackle unemployment by establishing investment bank<\/p>\n
African Development Bank (AfDB) has invested more than $171million in education in Nigeria.
\nAlso, the bank has equipped no fewer than 50 million young Africans with skills, particularly in science, technology, engineering and mathematics.
\nThe President of the bank, Dr Akinwunmi Adesina, disclosed this in a lecture delivered at a colloquium on \u2018The Role of Education in 21st Century Nigeria Development: BBHS Adventure\u2019, as part of activities marking the 100 years anniversary of Baptist Boys High School (BBHS), Abeokuta, Ogun State.
\nAdesina, who delivered the lecture virtually, stated that the various interventions have produced more than 464 master degree holders and 83 doctorate holders.
\nHe added the AfDB would soon establish a Youth Enterprise Investment Bank in Africa to address high unemployment rate on the continent.
\nThe president urged on African countries to improve access to quality education by adequately funding the sector to reduce youth unemployment on the continent.
\nHe warned that the high unemployment rate in Africa, if not checked, could worsen the social and political fragility of the countries on the continent.
\nThe event was also attended by the former Speaker of the House of Representatives, Dimeji Bankole, and other alumni of the school
\nAdesina, while delivering his lecture virtually, said for the United Nations goal for inclusive and quality education for all to be achieved, the global spending on education must rise from $1.2 trillion to $3 trillion per year by 2030.
\nHe said Nigeria as a country with rapidly growing population must do more to ensure that the younger generation receives access to the education they deserve.
\nHe stressed: \u201cAs a nation, the demands of a dynamic, fast-changing and integrated labour market globally require that we must significantly invest in building first grade and competitive human capital.
\n\u201cWe must also improve educational system to be more resilient and able to adapt to the rapidly changing environment.
\n\u201cWe must also transform African\u2019s educational systems to prepare students for this new digital world. The investment that any nation makes in education reflects hopes and aspirations for accelerated development.
\n\u201cWe cannot underfund education. A nation can only go as far as its quality of its human capital. So if you underfund quality education, get ready for underdevelopment.
\n\u201cThe greatest discouragement to education is lack of jobs. The unemployment rate in Africa is extremely high and it reduces the return on education. Furthermore, it leads to frustration among the youths and spurs social discontent which could worsen social and political fragility in countries.\u201d
\nIn his address, the National President of Old Boys Association of BBHS, Prof. Kayode Oyesiku, said that there was need for Nigeria to de-emphasis certification and focus more on technical and vocational education.
\nHe said: \u201cThis country places too emphasis on paper certificate. The issue of unemployment may not be resolved if we continue to place too much emphasis on paper certificate.
\nWithout vocational and technical education, we are going nowhere. We are only deceiving ourselves, so we must emphasis on vocational and technical education in our schools starting from secondary to the tertiary level.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
AfDB invests $171m in Nigerian education …To tackle unemployment by establishing investment bank African Development Bank (AfDB) has invested more than $171million in education in Nigeria. Also, the bank has equipped no fewer than 50 million young Africans with skills, particularly in science, technology, engineering and mathematics. The President of the bank, Dr Akinwunmi Adesina, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-193","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=193"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/193\/revisions"}],"predecessor-version":[{"id":194,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/193\/revisions\/194"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}