FG Eyes $500m W’Bank Loan to Boost Education, Health Sectors
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The Federal Government is seeking a $500m loan from the World Bank to address human resource challenges in the education and healthcare sectors.
The loan, part of the Nigeria Human Capital Opportunities for Prosperity and Equity Governance Programme, aims to tackle staffing gaps and enhance performance management in basic education and primary healthcare. The World Bank is expected to give final approval for the loan on September 26, 2024.
The loan will focus on three key areas: improving recruitment, deployment, and performance management of sector workers; strengthening financial and human resource management; and addressing disparities in staffing across regions.
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According to the Programme Information Document, Nigeria faces significant human resource challenges, including a shortage of qualified professionals, particularly in education and healthcare. The loan aims to incentivize improvements in workforce planning, recruitment, and deployment, with a target to reduce staffing gaps by 40% and ensure that at least 30% of recruits are women.
The loan is part of a larger $2 billion government program to accelerate the provision of quality basic education and healthcare services across Nigeria.
