According to statistics acquired from the Central Bank of Nigeria (CBN) and calculated using the data on the amount spent on educational services under the sectoral utilisation for transactions eligible for foreign exchange, Nigerians spent $609.5 million on international education between January and August 2022.
The apex bank said that a total of $60,202,730.84 was spent on international education in January 2022, while $69.9 million was spent in February 2022. There was a considerable rise in March 2022, when the bank reported spending $87.26 million.
There was a little decline in April as the apex bank registered a total of $78.62m. The amount was given as $82.70m for May 2022.
Further investigation showed that the apex bank issued $84.90 million in June 2022 and a total of $61.99 million in July 2022. When a total of $84.01 million was released in August 2022, there was a little rise. Nigerians have continued to leave the country in large numbers in search of international academic degrees.
According to recently disclosed statistics from the UK’s home office, the number of study visas granted to Nigerians surged by 222.8%, with 65,929 being awarded as of June 2022 as opposed to 20,427 during the same time in 2021.
Industrial actions by tertiary institution-based unions like the Academic Staff Union of Universities, particularly in the higher education sector, have harmed education in Nigeria, the Academic Staff Union of Polytechnics and the Colleges of Education Academic Staff Union.
Currently, academic activities are not taking place at Nigerian universities and institutions of education because of problems including, among other things, the wellbeing of professors.
According to CBN data, Nigerians sent more than $609.5 million to international academic institutions in just eight months without receiving a sizable amount of foreign funding for the domestic educational system. According to the United Nations Educational, Scientific, and Cultural Organization, as of 2018, there were around 76,338 Nigerians studying abroad, the biggest number from an African nation.
Program Director of Reform Education Nigeria, Ayodamola Oluwatoyin, commented on the situation by saying, “The fact is that most people consider ‘japa’ as a way of survival. People are free to leave the nation if they so want. ASUU’s strike has lasted over eight months.
“Most of the policies by the government itself are anti-youth; the government has made the economy difficult for youths to thrive. Most people are still going to leave before the end of the year and to be honest, it is very sad; this is brain drain and the country has not even realised it yet.”
