Nigerian industrialist Aliko Dangote received a standing ovation on Thursday from the government and stakeholders in the education sector as he launched a N1 trillion education fund to support 1.3 million students across the country’s 774 Local governments.

Speaking at the launch in Lagos, Dangote said that the N100 billion yearly education support initiative will support 45,000 new students every year from 2026, rising to 155,000 beneficiaries by the fourth year and remaining at that level for ten years.

Dangote described the initiative as a long-term investment aimed at reducing financial barriers that drive millions of young Nigerians out of school.

Dangote notes that “no nation can rise above the quality of education it offers its young people.”

He described education as “the foundation on which every prosperous society is built”, calling it the most powerful equaliser and the strongest engine of social mobility.

” We cannot allow financial hardship to silence the dreams of our young people — not when the future of our nation depends on their skills, resilience and leadership,” Dangote said.

The Presidency praised Dangote for unveiling what is now the largest private education support programme in Nigeria, describing the initiative as a major boost to the Federal Government’s human capital development agenda.

Vice President Kashim Shettima said the intervention demonstrates the critical role of private-sector actors in national development.

He noted that Nigeria’s demographic growth makes urgent investment in education indispensable, warning that “a population becomes a liability only when it is uneducated.”

“Alhaji Aliko Dangote, through his far-reaching philanthropy, has set in motion the single largest private-sector education support intervention in the history of this country,” Shettima said.

“What he has done here today is a lesson to each of us. This is nation-building in its purest form.”

Shettima highlighted ongoing reforms under President Bola Ahmed Tinubu’s administration, including the Nigerian Education Loan Fund (NELFUND), strengthened basic education infrastructure through UBEC, expanded TETFUND interventions and accelerated technical and vocational programmes.

He said these reforms aim to improve Nigeria’s poor Human Capital Index ranking and prepare young people for a skills-driven global economy.

Describing Dangote’s philanthropy as “long-term,” Shettima said the initiative aligns strongly with the government’s priority of expanding equitable access to education.

“No nation surpasses the aspirations of its most committed patriots,” he said.

“The legacy of Alhaji Aliko Dangote reminds us that greatness is not measured by wealth but by the number of lives one lifts from the shadows into the light.

”The Vice President added that the Aliko Dangote Foundation programme will widen opportunities for thousands of learners and bolster the FG’s efforts to build a competitive workforce.

He called for stronger collaboration between the the government, the private sector and development partners to address persistent gaps in the education system.

Education Minister Tunji Alausa described the initiative as “pure human capital development,” saying it aligns with the Tinubu administration’s education sector renewal plan of transforming Nigeria from resource-based economy to a knowledge-based economy and is significant because every local government area will benefit.

Lagos State Governor Babajide Sanwo-Olu, spoke on behalf of the 36 state governors.

He also commended the initiative and pledged the governors’ full support.

Chairman of the Programme Steering Committee, His Highness Justice Sidi Dauda Bage, Emir of Lafia, said the scheme is unprecedented and praised Dangote’s patriotism in reinvesting his wealth to uplift other Nigerians.

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, said Dangote’s impact in driving private-sector transformation remains unmatched, describing the new initiative as both transformational and a strategic investment in Nigeria’s future.