Tinubu Prioritizes Education in 2024 Budget Proposal

In a move that highlights the importance of education for national development, President Bola Tinubu has allocated a significant portion of the proposed 2024 budget to the education sector.

Funding to the education sector (N2.18tn) is 101.85 per cent more than the N1.08tn that was budgeted for the sector in the 2023 appropriation.

Of the amount, N1.23tn is for the Federal Ministry of Education and its agencies, N251.47bn for the Universal Basic Education Commission, and N700bn as transfers to the tertiary education trust fund.

While presenting the budget, Bagudu stated that N50bn of the amount would be for the student loan scheme of the Federal Government.

Key Highlights of the Education Budget

• The budget proposes a substantial increase in funding for tertiary institutions, to enhance infrastructure, expand access to higher education, and improve the overall quality of teaching and learning.
• Recognizing the crucial role of teachers in the education process, the budget allocates funds for teacher training and professional development programs. This investment aims to equip teachers with the latest pedagogies and enhance their ability to deliver effective instruction.
• In line with the global trend towards STEM (science, technology, engineering, and mathematics) education, the budget prioritizes initiatives that promote STEM education in schools. This includes funding for STEM laboratories, equipment, and teacher training.
• Recognizing the importance of early childhood education in shaping a child’s future, the budget allocates funds for early childhood education programs. This investment aims to ensure that all children have access to quality early learning opportunities.

President Tinubu’s prioritization of education in the 2024 budget demonstrates a strong commitment to building a knowledge-based economy and empowering Nigerians through education.

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