Nigeria receives $43m loan

[Richard Akindele]

Why does Nigeria need loans for the purpose of training more Nigerians? Don't we need enough highly educated people walking the streets without jobs?

Corrupt Nigerians looking for any excuse to get their hands on money then can squander.

What Nigerian needs at the moment is jobs for the unemployed, not job training.

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Abuja - Nigeria on Sunday signed a loan agreement for $43m with the African Development Bank to finance skilled training and vocational education.

The deal was signed by ADB president Donald Kaberuka and Nigeria's Finance Minister Ngozi Okonjo-Iweala at a ceremony here.

Kaberuke said the agreement was significant because it marked the third intervention by the bank in the education sector in Nigeria.

"The project is geared towards improving access to and enhancing quality and efficiency of vocational education and training for the youths, women, the disadvantaged and the unemployed," he said.

Nigeria's Education Minister Chinwe Nora Obaji said the project would help address numerous limitations in the country's education system, especially low performance in vocational schools.