A new N535 point six billion ($700 million) loan from the World Bank has been approved by the Federal Government under President Bola Ahmed Tinubu.
On Friday, September 22, 2023, a statement that was posted on the World Bank website revealed this.
The additional funding from the new loan will be used for the Adolescent Girls Initiative for Learning and Empowerment, a project that is already underway.
The statement stated, “The World Bank approved additional financing of $700 million for Nigeria to scale up the Adolescent Girls Initiative for Learning and Empowerment programme, with the aim of enhancing secondary education opportunities for girls in targeted states.
“With the additional funding, project activities will spread across eleven more states in addition to the current seven, and their targeted beneficiaries will be expanded to include out-of-school girls, married people, and people with disabilities. “
It was noted that Nigeria had between 12 and 15 million school-age children who were not enrolled in classes, with a large concentration in the north.
A million kids, on average, were impacted by increased insecurity near schools in 2020–2021, it was also noted.
According to the statement’s additional information, “In the seven states that are implementing the AGILE programme—Borno, Ekiti, Kaduna, Kano, Katsina, Kebbi, and Plateau—the number of girls enrolled in secondary schools has increased from roughly 900,000 to over 1.6 million.
In accordance with the program, more than 5,000 classrooms have been renovated and more than 250,000 qualified girls have received scholarships.
“The AGILE program has supported the building and renovation of WASH facilities in secondary schools, as well as the installation of computers and solar panels, which make going to school more convenient and conducive for both girls and boys. Other crucial elements of the program that address social norms impeding girls’ education include life skills development, system strengthening, and advocacy. “.
Shubham Chaudhuri, the World Bank’s country director for Nigeria, declared that “closing the gender gaps in economic empowerment by ensuring girls have access to education and skills is key for Nigeria’s development and economic prosperity.
“Investing in adolescent girls is essential when addressing general economic prospects and growth because Nigeria’s working population will soon be among the youngest and largest in the world. “
The statement stated that over 15 million students and beneficiaries, including teachers, administrators, families, communities, and staff in both existing and newly built schools, would also benefit from the financing in addition to the girls.
The new fund, it was added, would expand the project to 18 states and aid in improving the education and health of girls in Nigeria.
About 300,000 low-income female students were given N10,000 per term as incentives to attend school by their parents and guardians in six states.
The Adolescent Girls Initiative for Learning and Empowerment Programme provided funding for the six states of Kaduna, Kano, Katsina, Sokoto, Kebbi, and Plateau.
The World Bank noted that the N10,000 per term was given to the parents of low-income female students to encourage attendance and re-enrollment.
Additionally, it was revealed that each girl’s parents received N5,000 upon enrolling in the program.
Furthermore, it was noted that this was the third loan facility to be approved during Bola Tinubu’s presidency.
The first, a $750 million loan to support Nigeria’s power sector, received approval on June 9, 2023.
The second loan, for $500 million, was approved on June 22, 2023 and will support Nigeria’s efforts to advance women’s empowerment.
