Education
Education Takes a Hit From the Covid Crisis
Prior to the COVID-19 pandemic, Nigeria’s labour market had been plagued with precarity and informality. With over 30 million youths (people aged between 15 and 29 years of age) projected to enter the labour market in 2021 (which accounts for over 53% of that age group), the COVID crisis couldn’t have hit at a worse time.
The impact of COVID-19 felt on the labour market is not without precedent for Nigeria’s young workers. At the onset of the oil recession in 2016, young people entering the labour market in Nigeria faced similar hardships.
In consequence, a significant number of young Nigeria opted – or were compelled – to abandon their schooling in favour of work. At the onset of the oil recession – much like what happened at the onset of the COVID crisis – the percentage of young people in Nigeria who entered the labour market jumped by over 12%.
While working certainly can provide short-term relief during a crisis, unfortunately, this comes to the detriment of Nigeria’s already low human capital. The human capital index (or HCI), as defined by the World Bank, aims to quantify the effects that education and health have on the productivity of the next generation of workers.
Over the last four years, Nigeria’s human capital index has remained at a steady and concerning 0.35%. To offer a comparison, this score ranks Nigeria slightly below Afghanistan which comes in at 0.4 and significantly lower than leading countries such as Singapore and Australia whose scores reach above 0.9%.
With so many young Nigerians being forced – for all intents and purposes – to forego their education in exchange for immediate economic relief in precarious low-paying jobs, the country is facing an uphill battle in terms of improving working conditions, seeing a rise in salaries and a decrease in long-term unemployment. All trends point to the fact that technology is a good career path. But entering this field – much less excelling in it – requires a certain level of education that young Nigerians are being deprived of.
This causal chain can snowball quickly as the country continues to produce a relatively underqualified workforce, the better-paying jobs will continue to go elsewhere. And while the oil and gas production career path certainly has its benefits, as the oil recession of 2016 showed us, the field is vulnerable to rapid and wild fluctuations.
Whereas receiving a quality secondary education will broaden one’s scope of work options, raise their standard of living and those around them, and give them the arms to combat against potential recessions and crises, without an education, the chances of these crises having lingering effects is increased dramatically – if not outright guaranteed.
Due, in part, to the COVID-19 crisis, economists are predicting that Nigeria is headed for its worst recession in 40 years. A staggering 20 million Nigerians are expected to fall below the poverty line in 2022.
The GDP is projected to dip, as well, which would mean a significant loss in government revenue. This, in turn, would likely lead to cuts in both education and the health care system. And the snowball gets bigger and bigger and bigger.
Despite the pessimistic projections, government officials such as Shubham Chauduri, the World Bank’s County Director for Nigeria, is quick to point out that initiatives have been put in place, and we are already seeing positive results.
In 2021, The Central Bank of Nigeria (CBN) initiated a weakening of the official exchange rate for the naira. This was done in a concerted effort to try to converge the official rate with that of the NAFEX (the Nigerian Autonomous Foreign Exchange Rate).
“We acknowledge the steps to reform exchange rates,” said Shubham Chaudhuri. “But that’s one part of it.”
Other measures that have already been implemented include the introduction of a market-based pricing policy for petrol; the reduction and potential elimination of subsidies for electricity; and the adjustment of tariffs.
The projected savings these measures would mean for the government are meant to allow Nigeria to redirect its resources toward COVID-19 response and relief. The sooner we get through the crisis, the sooner those resources can be reallocated. To where, and to what end remains to be decided.
If ever we can look at this crisis and see a silver lining it would be that the dire circumstances and woeful projections are forcing officials to take practical actions – many of which have been a long time coming.
Nigeria’s farmers are a high priority in the current wave of economic reforms. Some notable examples of initiatives that have begun to be rolled out include:
- Additional funds allocated to the research of improved crop and livestock varieties
- Additional funds released to help support the infrastructure associated with farming – this includes storage, transport, and market access.
While these initiatives are likely to yield long-term benefits, there is potentially no greater long-term return on investment than that which comes from investing in education. For the time being, however – much like in prior crises – education is being made to take a back seat.
By Adedapo Adesanya
The Nigerian Education Loan Fund (NELFUND) has granted another extension for its Student Loan Application Portal to accommodate institutions that requested additional time for the 2025/2026 academic session.
According to the statement signed by NELFUND’s Director of Strategic Communications, Ms Oseyemi Oluwatuyi, on Thursday, the extension applies only to institutions that submitted formal requests, allowing eligible students extra time to complete their applications.
“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal for institutions that have formally requested additional time for the 2025/2026 academic session,” the statement read.
Business Post reports that at the beginning of March, NELFUND announced an extension to the deadline by a week for its student loan application portal following a notable rise in nationwide interest driven by ongoing awareness campaigns.
Speaking on the development, NELFUND Managing Director and Chief Executive Officer, Mr Akintunde Sawyerr, reiterated the Fund’s commitment to ensuring that eligible students at participating institutions can access the student loan programme.
“NELFUND remains committed to ensuring that eligible students across participating institutions have the opportunity to access the student loan programme,” he said.
The Fund urges students in affected institutions to take advantage of the extension and submit their applications through the official portal.
It also emphasised its dedication to transparency, accountability, and providing sustainable financing solutions to remove financial barriers to higher education in Nigeria.
Established to administer the Nigeria Student Loan Scheme, NELFUND was enacted into law by President Bola Tinubu in April 2024.
The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
Beneficiaries are required to repay the loans after completing their education and securing employment, aiming to increase access to higher education for students from low-income backgrounds.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has inaugurated a Curriculum Review Committee aimed at strengthening taxation education in Nigerian academic institutions and improving the country’s tax administration system.
According to a statement, the committee was inaugurated on February 24, at the NRS Academy in Durumi as part of the agency’s broader efforts to modernise tax education and align academic training with the evolving demands of contemporary tax administration.
Speaking during the inauguration, the Director of the NRS Academy, Mr Adeolu Akinyemi, said the review exercise would involve collaboration with the Chartered Institute of Taxation of Nigeria (CITN) to develop a more structured and relevant curriculum for the academy.
He emphasised that the initiative seeks to ensure that taxation programmes taught in Nigerian institutions reflect current developments in tax policy and practice, while also equipping students with the practical knowledge required in today’s tax administration environment.
The committee has been tasked with examining existing taxation curricula across Nigerian institutions and proposing updates that incorporate modern tax policies, recent legislative changes, and emerging areas such as digital taxation and global tax practices.
Officials say the review is also designed to close the gap between theoretical classroom instruction and the practical realities of tax administration.
By strengthening the link between academic learning and professional practice, the revised curriculum is expected to better prepare graduates for careers in the tax sector.
The effort is further expected to enhance tax awareness among citizens, encourage voluntary tax compliance, and support the development of skilled tax professionals who can contribute to national revenue generation and economic growth.
The committee is chaired by Mrs Aisha Hamman Mahmoud, Special Adviser to the Executive Chairman of the NRS on Research and Statistics. Its membership includes representatives from the service as well as academic experts in taxation and fiscal policy, alongside professionals with experience in tax administration, policy formulation, and tax education.
The committee will work with relevant educational regulatory agencies and professional bodies to ensure that the proposed curriculum aligns with national academic standards while addressing the practical needs of Nigeria’s tax system.
The NRS stated that the initiative forms part of its ongoing commitment to expanding tax knowledge, strengthening professional capacity, and promoting responsible tax practices across the country.
The curriculum review exercise is expected to be completed within 60 days, after which the Service plans to provide further updates on the implementation of the revised programme.
By Modupe Gbadeyanka
The first batch of Nigerian undergraduates to enjoy fully paid scholarships for studying science, technology, engineering and mathematics (STEM) courses across the continent has been chosen by Airtel Africa Foundation.
Business Post gathered that 70 students from universities across Nigeria were selected from thousands of applicants through an independently managed process, which took nearly six months.
It was learned that most of the undergraduates were from the University of Lagos (UNILAG), Obafemi Awolowo University (OAU) Ile-Ife, the University of Benin (UNIBEN), Tai Solarin University of Education (TASUED), the University of Ilorin, Ahmadu Bello University (ABU Zaria), and the University of Nigeria (UNN).
The scholarship covers tuition, laptop computers, living expenses, and essential learning resources, a statement from Airtel Africa Foundation disclosed.
The chairman of the foundation, Mr Segun Ogunsanya, speaking at the presentation of the scholarships to the beneficiaries at the Lagos headquarters of Airtel Nigeria, emphasised the need for initiatives such as the Airtel Africa Foundation’s undergraduate tech scholarship for the future of the continent.
“True legacy is not measured by the awards we win or the volume of SIM cards we sell; it is measured by the lives we save, the people we feed, and the students we support when the line between success and failure is at its thinnest.
“At the Airtel Africa Foundation, we believe that lifting people out of poverty is the ultimate benchmark of a great company. Today, we are writing that legacy by tilting the balance in favour of the brilliant but underserved, ensuring that the fourth industrial revolution, driven by AI and Data Science, is built by African talent for the African continent,” he stated.
Mr Ogunsanya further revealed that this fellowship, executed through Airtel Nigeria, is designed to bridge the gap where funding, skills, and opportunity often fail to meet.
In addition to the N500,000 yearly budget for the fellows’ four-year or five-year courses, each fellow would be integrated into a structured support system for academic guidance and career mentorship, intended to ultimately transition students from the classroom to the global tech workforce.
Addressing the students, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, stressed that youth development is a strategic imperative for Airtel.
“At Airtel Nigeria, we view youth development as essential nation-building. When young people succeed, innovation accelerates, and social stability improves.
“By connecting these brilliant scholars to knowledge, skills, and confidence, we are fulfilling our core mission to connect people to opportunity. To our recipients: you earned your place here through merit and discipline. You are now ambassadors of excellence, and we expect your leadership to be defined by your conduct as you help shape a more inclusive digital future for Nigeria,” the Airtel Nigeria chief said.
The Nigerian cohort joins a prestigious network of Airtel Africa Foundation fellows currently studying in Tanzania, the Democratic Republic of Congo (DRC), Uganda, and India.
The initiative underscores a broader commitment to technology education, youth development, and Nigeria’s digital economy.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn