Africa’s richest man, Aliko Dangote, has pledged ₦1 trillion ($688 million) to fund education across Nigeria over the next decade, marking the country’s largest private-sector scholarship program to date.

The initiative, unveiled Thursday in Lagos by the Aliko Dangote Foundation, will begin in 2026 and aims to reach 1.3 million students across the West African country.

The program will disburse ₦100 billion annually to expand access to higher education, vocational training and teacher development.

Under the scheme, 30,000 undergraduates in science, technology, engineering and mathematics (STEM) will receive full tuition support.

Another 5,000 vocational trainees will be equipped with tools to enter the workforce, while 20,000 girls from regions with high out-of-school rates will benefit from comprehensive aid packages.

In addition, 10,000 STEM teachers will undergo specialized training to strengthen classroom instruction nationwide.

Dangote, who chairs both the Dangote Group and the foundation, described the program as a long-term investment in Nigeria’s human capital.

“We cannot let financial difficulties stifle the dreams of our young people,” Dangote said. “This is a strategic investment in Nigeria’s future.”

Vice President Kashim Shettima and Lagos state Governor Babajide Sanwo-Olu attended the unveiling, praising the scheme as a transformative step toward reducing inequality and boosting productivity.

Speaking Thursday in Lagos during the launch of the education scholarship scheme, the vice president extolled Dangote’s philanthropic stride, saying education is a burden carried by those with the knowledge of its power to transform.

“This is a remarkable investment in the potential of our young people. It shows what is possible when the private sector steps up with commitment and when we work together to expand opportunities for every child,” Sanwo-Olu posted on social media.