The Federal Government is discussing a $150 million development fund with the World Bank to support the next phase of the Africa Centers of Excellence (ACE) initiative, known as the ACE Innovate Project.

The National Universities Commission (NUC) Executive Secretary Abdullahi Ribadu confirmed this yesterday during the launch of the ACE Alliance and the Compendium on Key Achievements of the ACEs in Nigeria in Abuja.

According to him, the discussions with the World Bank have reached an advanced stage. He said the Minister of Education Tunji Alausa had written to the Ministry of Finance requesting engagement with the Bank to submit an Expression of Interest for the $150 million facility.

Ribadu said the ACE Innovate Project was designed to sustain and build upon the achievements of the previous ACE and ACE Impact phases, which have strengthened postgraduate education, research capacity, and innovation in 17 Nigerian universities hosting 20 Centres of Excellence.

According to him, the ACE initiative, conceived by the World Bank in partnership with African governments and development partners, has transformed Nigeria’s higher education landscape, producing thousands of master’s and doctoral graduates and generating groundbreaking research in health, agriculture, engineering, ICT, and environmental sciences.

He said: “From the first phase (ACE I) to the recently-concluded ACE Impact cycle, our universities have not only built and equipped modern laboratories and conducted world-class research, but have also produced thousands of master’s and doctoral graduates, many of whom are now advancing research, policy, and enterprise across Africa.