Nigeria Urges Debt Safeguards for Education, Highlights NELFUND at UN

At a United Nations dialogue in New York, Nigeria highlighted NELFUND as part of its effort to reduce financial barriers to higher education. The interest-free loans cover eligible students’ institutional charges and upkeep. Nigeria also urged governments and international financial institutions to protect education budgets when negotiating debt arrangements and implementing economic adjustment programmes. It warned that rising debt repayments and borrowing costs could squeeze funding for schools, teachers and learning materials. The UN Special Rapporteur on the right to education warned that debt and austerity were limiting investment in public education. The discussion cited UNESCO data showing that 113 countries, home to about 6.1 billion people, spend more on debt servicing than on education.

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