Literacy is the ability of someone to read, write and comprehend, whether the person is young or old. While Extravaganza is the surplus amount of something than the usual requirement. It's something that is plentiful and expensive to attain or obtain at a given period of time.
Literacy extravaganza is an extreme immersion of educative and informative activities that involves teaching and learning how to read, write, comprehend and speak. However, this gives you the opportunity to learn outside the box, and have excess to go home with.
I believe this will prove useful to you.