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Publication

How Low Can We Go?

In Nigeria, budgetary allocations to the education sector have consistently fallen short of the UNESCO benchmark of 4 to 6% of Gross Domestic Product (GDP) or 15 to 20% of public expenditure. The current (2022) budget allocation to education is 5.39%, that is N923.79 out of the N17.13 trillion overall budget. This 5.39% allocation is not only a 50% reduction from the 10.79% allocated to education in 2015, it is the lowest allocation to education that Nigeria has had in the last 10 years. The effects of this low investment in education have been dire. For instance, according to UNICEF, Nigeria has at least 18.5 million out-of-school children. Also, the ongoing strike action by the Academic Staff Union of Universities (ASUU), which, at the time of writing has been on since February 14, 2022, is due to, among others, demand for increased funding of Nigerian public universities. This begs the question: how low can we go?