From CNBC Africa
According to the results for Development Institute, there are currently 10 million out-of-school in Nigeria.
“There is a very high number of out-of-school in Nigeria, 10 million and according to our study, that translates to a loss of one per cent of GDP,” Milan Thomas, Program Associate at the Results for Development Institute told CNBC Africa.
Nigeria currently holds the world record for the country with the most children out of school and a report by the United Nations Educational, Scientific and Cultural Organization (UNESCO) showed that one in every five Nigerian children, is out of school.
“Although one per cent may not seem significant, in a huge economy like Nigeria, this translates to three billion dollars,” he said.
Out-of-school children earn significantly lower than their counterparts who complete their education when they enter the labor market and are therefore a huge untapped source of economic growth.
Written by Dara Rhodes/Read more at CNBC Africa.