February 27, 2023

Nigeria Spending on Intl’ Studies in 2022 Sees Significant' Drop - Trends Website Reveals

A According to a leading Nigerian newspaper, Nigeria's spending on international studies was significantly lower in 2022 compared to the previous year. Based on a survey conducted by the newspaper, Nigerians spent $1.38 billion during the first nine months of 2022 on funding students to pursue degrees and diplomas in universities and colleges abroad. However, this amount was more than half a million dollars less than the country's spending on international education during the same period in 2021, when it paid $1.88 billion.

The fact that the news appears to be consistent with previous CBN estimates that show Nigerians spent a whopping $90.67 million on foreign education alone in December 2021, with a total of $60.2 million spent in January 2022, rising to nearly $70 million in February of the same year, lends credibility to the news.

The Nigerian daily paper reported that despite "negatively" impacting the country's balance of payments and likely being the largest expenditure on foreign education in Africa, the total in 2022 represents the country's lowest spending on study abroad by Nigerians since 2016.

The situation is exacerbated by the fact that the country received no significant "cash inflow from foreign students," the trends website laments, noting that the data coincided with the high mobility of Nigerians moving to foreign countries via "the education route," the newspaper added.

…Nigerians who want to relocate abroad now apply for admission to foreign universities, and upon admission apply for study visas, which allow them to work and school in the host country during the course of their studies…

A reputable Nigerian expert, the one-sided trend is due to the fact that "education has become the easiest way for Nigerians to get a visa into European countries, particularly the United Kingdom," where Africa's largest economy and most populous nation sends the majority of its students. He said, Nigerians who want to relocate abroad now apply for admission to foreign universities, and upon admission apply for study visas, which allow them to work and school in the host country during the course of their studies.”

Nigeria is Africa's most important source market for international students, with thousands studying in North America, Europe, Asia, and South Africa. According to the US Department of Commerce, 71,133 of them will be enrolled in universities abroad by 2022.Some 14,438 joined classes in the US, according to 2022 Open Doors data.

Posted in News and tagged News, Nigeria, International Studies, Africa, Foreign Education, Study Abroad
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