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Describing money put into education as investment, Obi said the problem with Nigerians is that they still see education as expenditure rather than investment in the future, adding that it had become clear from what countries that invested in education are reaping now that there is direct correlation between investment in education and economic growth.

Insisting that poor investment in education produces adult illiterates and makes for low productivity in any nation, he said: “From 2010 to 2014, Nigerian budgeted N1.860 trillion on education, which at the rate of N160 to a dollar was 11.1 billion dollars. In 2015 and 2016, the budget was a total N761 billion, which at the rate of N360 to a dollar was 2.1 billion dollars. As you can see, it means that over a period of seven years, Nigeria with a population of about 190 million people spent 13.2 billion dollars on education.

“Juxtapose this with South Africa, the second biggest economy in Africa which with a population of 55 million, spent over 15 billion dollars on education in 2015 only and Egypt, the third biggest economy in Africa and with a population of 95 million spent about 12 billion in 2015 only. This shows that Nigeria is still sleeping as far as investment in education is concerned.”

South African President Cyril Ramaphosa pledged to donate half his salary to a fund honouring Nelson Mandela, the country’s first democratically elected leader who died in 2013, in a move aimed at encouraging his countrymen to do more for the poor.

“This fund will be launched on July 18 to mark the 100th anniversary of Madiba’s birth,” Ramaphosa, who referred to Mandela by his clan name, said in a speech to lawmakers in Cape Town on Wednesday. “This is a private, citizen-driven initiative that will ask all those with the means to contribute a small portion of their salaries to supporting the many small projects that build the nation.”

Ramaphosa became one of the wealthiest black South Africans during a 14-year stint in business and is paid R3.6 million ($288,000) a year as president. He took office in February when the ruling party forced Jacob Zuma from office after a scandal-tainted tenure that lasted almost nine years, and has been on a drive to restore public confidence in the government and ruling African National Congress, which is due to contest elections next year.

Ramaphosa has drawn praise on social media for flying with the national airline, at times in economy class, inviting the public to join him on early morning walks and clamping down on the graft within the government and state companies that became endemic under his predecessor.

Describing money put into education as investment, Obi said the problem with Nigerians is that they still see education as expenditure rather than investment in the future, adding that it had become clear from what countries that invested in education are reaping now that there is direct correlation between investment in education and economic growth.

Insisting that poor investment in education produces adult illiterates and makes for low productivity in any nation, he said: “From 2010 to 2014, Nigerian budgeted N1.860 trillion on education, which at the rate of N160 to a dollar was 11.1 billion dollars. In 2015 and 2016, the budget was a total N761 billion, which at the rate of N360 to a dollar was 2.1 billion dollars. As you can see, it means that over a period of seven years, Nigeria with a population of about 190 million people spent 13.2 billion dollars on education.

“Juxtapose this with South Africa, the second biggest economy in Africa which with a population of 55 million, spent over 15 billion dollars on education in 2015 only and Egypt, the third biggest economy in Africa and with a population of 95 million spent about 12 billion in 2015 only. This shows that Nigeria is still sleeping as far as investment in education is concerned.”

South African President Cyril Ramaphosa pledged to donate half his salary to a fund honouring Nelson Mandela, the country’s first democratically elected leader who died in 2013, in a move aimed at encouraging his countrymen to do more for the poor.

“This fund will be launched on July 18 to mark the 100th anniversary of Madiba’s birth,” Ramaphosa, who referred to Mandela by his clan name, said in a speech to lawmakers in Cape Town on Wednesday. “This is a private, citizen-driven initiative that will ask all those with the means to contribute a small portion of their salaries to supporting the many small projects that build the nation.”

Ramaphosa became one of the wealthiest black South Africans during a 14-year stint in business and is paid R3.6 million ($288,000) a year as president. He took office in February when the ruling party forced Jacob Zuma from office after a scandal-tainted tenure that lasted almost nine years, and has been on a drive to restore public confidence in the government and ruling African National Congress, which is due to contest elections next year.

Ramaphosa has drawn praise on social media for flying with the national airline, at times in economy class, inviting the public to join him on early morning walks and clamping down on the graft within the government and state companies that became endemic under his predecessor.