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World Bank seeks refund of $611 million loan from Nigeria

Nigeria's World Bank loan, World Bank projects, SMEs, Growth

The World Bank’s Task Team Leader, in charge of Better Education Service Delivery for All (BESDA), Hajiya Aisha Garba has threatened to withdraw its $611 million loan granted to the Nigerian government.

The $611 million loan was released to the Nigerian government, to support the country’s Universal Basic Education (UBE) programme.

“We released this fund to assist the 36 states including the FCT but failure to used it and achieved the good results, the World Bank will retrieve the Money,” Garba added.

About the UBE programme

The Universal Basic Education (UBE) programme was  introduced in 1999 by the Federal Government . Its objectives include:

A Dire State

The World Bank Human Capital Report released late last month gives a bird’s eye view of the poor state of education in the country.

However, when years of schooling are adjusted for quality of learning, this is onlyequivalent to 4.2 years: a learning gap of 4 years.

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