The Aliko Dangote Foundation has committed one trillion naira ($688 million) to support education in Nigeria over the next decade, Bloomberg reported. The initiative aims to reach 1.33 million students, starting with 45,000 scholars next year.

Focus areas include STEM disciplines, science, technology, engineering, and mathematics, alongside programmes for girls’ education and teacher training. The foundation intends to prioritise students at highest risk of dropping out and those whose potential can drive change in their communities.

Aliko Dangote, Africa’s richest person, described the initiative as a strategic investment rather than charity. “Every child we keep in school strengthens our economy. Every student we support reduces inequality,” he said, noting that education is vital to boosting the nation’s economy and tackling inequality.

Nigeria faces a significant challenge: one in five of the world’s out-of-school children lives in the country, according to the United Nations Children’s Fund, and over half of its 230 million population lives in poverty. Dangote said financial hardship should not silence young people’s ambitions.