The presidential candidate of the Labour Party, Peter Obi, has said Nigeria’s investment in education is very low.
He said to change the situation, there should be a synergy between the government and private sector because the government can’t continue to fund the sector.
Obi spoke on Sunday at the Arise TV presidential town hall meeting.
He said, “Our investment in education is low compared to comparable countries. In six years, our total investment in education by the FG is about N3.6 trillion. That is not up to South Africa which is the second-biggest economy and about the same year. In 2020, their budget for education is 380 billion Rands. If you convert this, you will see the difference, so, we need to invest in education.
“Overall, the funding of tertiary institutions needs to be restructured. We need to bring a lot of mix where the government will contribute, we have from the private sector who need this product to contribute. It is not something I believe the FG can continue to fund the way they are funding it.
“All they need now is to go back to the agreement, clear the backlog and then design a sustainable funding mechanism. It is very easy, we learn from what is happening in other countries of the world.”