Despite
 spending so much more on education, learning outcomes of Nigerian 
learners are behind those of other sub-Saharan African countries, 
Finance Minister Dr. Ngozi Okonjo-Iweala has said.
Delivering
 a keynote address entitled: “Reforming Nigeria’s Education System: 
Paradigm Shift” at the 2012 Isaac Moghalu Foundation (IMoF) Leadership 
Lecture in Lagos recently, Mrs Okonjo-Iweala blamed the problem on lack 
of transparency in the implementation of the budget.
She 
said: “Nigerian students in grades four and six performed worst out of 
22 African countries that participated in UNESCO’s effort at measuring 
learning outcomes – the Monitoring Learning Achievement (MLA) assessment
  - in 1996, behind countries like Niger, Togo, Gambia, Burkina Faso, 
Mali and others in Africa.  
“But 
the alarming finding is that Nigeria’s position did not improve when the
 test was taken again in 2003.  Among fourth graders, only 25 per cent 
(in 1996) and 35 per cent (in 2003) of answers that were provided on the
 test were correct; only 32 per cent (in 1996) and 34 per cent (in 2003)
 answers in the Mathematics test were correct.  In national examinations
 of primary school pupils in four main subjects in 2001 and 2003, only 
20 per cent of fifth grade students could correctly answer over 30 per 
cent of the test, and less than one per cent could correctly answer over
 half of the test questions.,” Dr. Okonjo-Iweala said.
She 
went on:“It is obvious that substantial inefficiency persists in the use
 of education resources.  Federal government allocations to the 
education sector have averaged nearly eight per cent of the total budget
 between 2004 and 2012.  The 2012 education budget is N409.5 billion. 
 There is also the Tertiary Education Trust Fund (TEFT) – a two per cent
 tax on the assessable profits of all registered companies in Nigeria to
 improve the quality of education in the country.  TEFT raised N130.75 
billion in 2011.  There is also UBEC’s allocation of N63.12 billion.  
“Yet,
 the standard of education is not commensurate with the financial 
outlay.  According to a World Bank study in 2008, federal and state 
governments aggregate spending on education, as a per cent of GDP, is 
higher than the average of sub-Saharan countries, but on par with South 
Africa and Kenya. Yet, learning outcomes in Nigeria are weaker than in 
these two countries.  Much of this inefficiency is the result of weak 
budget management and accountability.”
She 
added that until the problem of poor learning outcomes was addressed, 
the impact of education on the development of the economy would remain 
minimal.
“But 
to yield sustained benefits at the national level, research shows that 
education needs to be more about learning outcomes and skills 
acquisition than just years of schooling.  So regardless of the number 
of years spent in the classroom, or the level of academic qualifications
 a nation’s workforce attain, if they lack the right technical and 
practical skills…the impact of such an education system on economic 
growth will be very limited,” Dr. Okonjo-Iweala said.
The 
Executive Director of IMoF, Mrs Maryanne Moghalu said the foundation 
would contribute its quota to address some of these challenges by 
enhancing access to quality education for underprivileged children in 
rural areas through its scholarship scheme.
She 
added that the foundation inaugurated in 2005, is shopping for N300 
million to provide secondary and tertiary scholarships for 200 youths 
and called for support in this regard.
“As 
we face the future, we are determined to increase and maintain the 
impact of IMoF. To achieve this, we need the partnership support of men,
 women, and organisations with goodwill and a strong sense of social 
responsibility.  
“Our 
immediate goal is to raise funds for N300 million to endow the Isaac 
Moghalu Memorial Scholarships and put 200 youths on full scholarships 
for secondary and university education, in the case of the latter, to 
obtain qualifications in science and technology, the professions, and 
entrepreneurial skills,” she said.
 
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