The Renewed Hope Initiative (RHI) has established valuable partnerships with various national and international organisations, significantly increasing access to quality learning for Nigerian youth. The First Lady, Senator Oluremi Tinubu, recently announced the selection of 200 recipients for the AUDA-NEPAD/African School of Economics/ RHI Scholarships under the Initiative. During the State House Abuja’s Banquet Hall presentation, the First Lady reinforced President Bola Ahmed Tinubu’s administration’s commitment to prioritising education, demonstrated through implementing various policies and programs in the sector.
According to her, Tinubu’s administration has made notable academic strides. Initiatives such as the Student Loans scheme with zero interest, scholarships, and bursaries for students, as well as the development of school infrastructure, all aim to ensure that every student across the country has equal learning opportunities. She stated that the Renewed Hope Initiative’s National Scholarship Programme (RHI-NASP) awarded students in Nigerian tertiary institutions scholarships worth #1,000,000 annually for four years and a new laptop.
Next payment for eligible recipients will be made in September 2024.
This program aims to help students cover the costs of tuition, books, and other academic expenses. The following payment for eligible recipients will be made in September 2024. She further stated that she has always stressed the importance of educating and empowering young girls in the region. She believes that over the years, girls have been left out of formal Education in comparison to boys, and it is crucial to change this cultural norm. As a result, she noted the necessity of creating Alternative High schools specifically for girls nationwide.
Professor Tahir Mamman, the Minister of Education, praised the First Lady for her dedication to education, calling her a true advocate for learning. He commended her passion and determination in the field of academics. He also revealed that the ministry is backing her efforts by offering 4,000 new scholarship grants to college students nationwide. During her speech, Princess Gloria Akobundu, the CEO of AUDA-NEPAD, emphasised that the recipients will have access to high-quality academics both domestically and internationally.
World Bank projected 0.37% increase in GDP with an extra year of education.
Leena Pylvanainen, the Finnish Ambassador, expressed her nation’s eagerness to establish new collaborations with the Renewed Hope Initiative in academics. Highlighting the global support for the initiative, a group of 200 students from various disciplines will soon embark on their academic journey at the African School of Economics. This prestigious institution is affiliated with Preston University in the United States. These students have been awarded scholarships, underscoring the commitment to providing study opportunities and promoting international partnerships to enhance youth academics quality.
Moreover, increased learning opportunities for young people have the potential to drive solid Economic Growth and development, as studies show that nations with elevated levels of knowledge acquisition often see higher economic growth. An example of this is research conducted by the World Bank which concluded that every extra year of education results in a 0.37% increase in average annual Gross Domestic Product (GDP) growth. A well-rounded academics empowers people to actively engage in the labour market, inspire new ideas, and establish their businesses, ultimately leading to the growth of the country’s economy.
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However, funding, infrastructure, and Teacher training present several limitations to successfully executing these academic programs. Many institutions need more resources and proper facilities, which affects creating an optimal learning atmosphere. The government can draw inspiration from successful academic systems in other nations to address these challenges. To illustrate, Finland’s approach to education centres around ongoing teacher development and a commitment to enhancing learning facilities. By utilising comparable tactics, in addition to a boost in funding from both the government and private sector, it is possible to tackle these challenges and guarantee the effective execution of educational initiatives.