The President, Nana Akufo-Addo has called on fellow African leaders to direct proceeds from oil exploration and other extractive sector activities towards supporting education within their respective countries.
At the 37th Ordinary Session of the AU Assembly on Sunday, the president stressed on the significance of this approach in bridging the continent’s education funding gap and attaining objectives of Sustainable Development Goal (SDG) 4.
Also, he says, Africa requires an estimated $80 billion annually to address this shortfall, a challenge that cannot be solely met through external aid.
Emphasizing the need to tap into internal resources, particularly from the extractive industry, he asserted that redirecting such funds toward education is paramount.
President Akufo-Addo cited Ghana’s reliance on oil revenues to finance its education budget and expressed his country’s commitment to this strategy going forward.
He underscored education as a strategic investment crucial for unlocking Africa’s full potential and fostering a brighter future for generations to come.
While pointing at education’s role in driving economic growth and sustainability, he advocated for prioritizing it as a key investment for Africa’s prosperity and self-sufficiency.
Experts suggest that such investments could yield substantial returns, leading to an increase per capita income and prosperity in the continent’s future.
