$500M World Bank loan will reduce staffing gaps in education, health sectors – FG
By Taiwo Osho
Nigeria’s education and healthcare sectors are set to experience growth as the government of President Bola Ahmed Tinubu finalizes arrangements to secure a $500 million loan from the World Bank.
The loan programme is scheduled to run from 2024 to 2028, providing support for systemic reforms at both the state and federal levels, focusing on cross-sectoral issues such as financial resource allocation, public financial management, fiscal transparency, and accountability.
According to the “Program Information Document (PID)”, the proposed loan, part of the Nigeria Human Capital Opportunities for Prosperity and Equity (HOPE) Governance Program, is intended to tackle long-standing staffing gaps and enhance the performance management of basic education teachers and primary healthcare workers.
The loan, the PID noted, will focus on three major result areas, with the improvement of recruitment, deployment, and performance management of sector workers being a key component.
According to a report, Nigeria’s human capital index indicates that a child born in the country today will only achieve 36% of their productive potential if current levels of health and education services persist.
“One of the primary objectives of the loan is to incentivize improvements in workforce planning within the education and healthcare sectors.
“The loan will provide the necessary financial resources to enhance the recruitment processes, ensuring that qualified professionals are adequately deployed to where they are most needed,” the document stated.
The loan, a part of a larger $2 billion government program that seeks to accelerate the provision of quality basic education and healthcare services across Nigeria, will also address the significant disparities in staffing across Nigeria’s regions, a challenge that has long plagued both sectors.
RECOMMENDED ARTICLES
Comment
No comments found.