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Formal and informal literacy education in Nigeria received a significant boost under the colonial rule of Britain, but since independence in 1960, educational funding across the board has been lacking. [72] Informal education has also aimed at addressed issues other than illiteracy.
In 2019, of Nigeria's annual budget of N8.8trn only 3.6% was allocated to healthcare. [7] In a 2017 survey carried out by Nigeria's polling agency, NOI Polls, in conjunction with Nigerian Health Watch it was found that most doctors seek opportunities abroad as 88 percent of doctors were considering work opportunities abroad. [6]
The Nigerian Education Loan Fund (NELFUND) is a pivotal financial institution established under the Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024. [1] It was signed into law by President Bola Tinubu on 3 April 2024, marking a historic step towards ensuring sustainable higher education and functional skill ...
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In the developing world, many factors can contribute to a poverty trap, including: limited access to credit and capital markets, extreme environmental degradation (which depletes agricultural production potential), corrupt governance, capital flight, poor education systems, disease ecology, lack of public health care, war and poor infrastructure.
The Nigerian education system faced consistent challenges on all levels in the years before the election as UNICEF noted about 20 million out-of-school children in 2022 while also showcasing issues in early childhood education and primary school attendance, especially among girls and in the North.
The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms ...
Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. [1] Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015.