How Nigeria spent $28.65bn on foreign education in 10 years
Foreign education cost Nigeria $28.65 billion from 2010 to 2020, with personal transport allowances totaling $58.7 billion, according to a report from the Office of the Deputy Speaker, House of Representatives, citing the Central Bank of Nigeria.
In a statement, the Office highlighted that “redirecting a portion of the funds to ventures within the country could have significantly strengthened the naira” and emphasized that “promoting transnational education in the country is pivotal for boosting the economy and alleviating forex pressure.”
The statement also noted that “offering scholarships and fostering partnerships for in-country foreign education delivery could help Nigeria attract more transnational education providers,” thus solidifying its position as Africa’s largest market for international education.
“Collaborative efforts would play a vital role in improving the transnational education landscape in Nigeria,” it added.
The report calls for “an urgent need for a legislative framework to create policies that will enable the Federal Government to develop a sustainable transnational education sector.”
These policies would facilitate the transformation of six universities into transnational institutions, enhancing the country’s GDP through education exports and establishing a roadmap for long-term market growth.
According to the statement, “safeguarding Nigerian students abroad is paramount,” with a task force focusing on qualification recognition and insurance schemes.
Osobase Ehizua, a senior legislative aide in the Office of the Deputy Speaker, is championing this transformative policy effort.
“Efforts under Ehizua’s leadership aim to create a legislative roadmap for transnational education in the country,” the report noted.
“The goal is to fortify the education sector, enhance bilateral relations, and leverage education as an exportable resource for economic growth.”
The proposed International Education Commission Bill seeks to “foster peace, justice, and the safety of Nigerian students abroad.”
The statement added that “education, as an exportable service, holds immense potential for Nigeria” and that embracing transnational education could expand international education access and strengthen global collaborations.
“This strategic move goes beyond academics, fostering cultural exchange, knowledge sharing, and skills development.”
The benefits of transnational education are described as “far-reaching,” including co-funded scholarship programs, student support services, and the establishment of foreign universities in Nigeria.
“This initiative not only enriches the local educational ecosystem but also aligns with global trends where countries like the US and UK benefit significantly from education exports yearly.”
With Nigeria experiencing a surge in higher education interest, “partnerships with key players such as China, the UK, Canada, the US, and Australia are crucial to meeting the growing demand for quality education.”
The report emphasised that focusing on education as a tradable service “not only drives economic growth but also fosters cross-border relationships,” reflecting Nigeria’s commitment to global partnerships and excellence in research and teaching.
Ehizua noted that “the present geopolitical, economic, and policy contexts in Nigeria have posed challenges for international education activities,” adding that Nigerian higher education providers have struggled to establish collaborative research activities with foreign institutions.
“Despite misconceptions about funding, there is significant interest from foreign universities, investors, and organizations in partnering with Nigeria’s education sector players in the right environment,” he said.
He highlighted that “Nigeria’s education sector offers vast opportunities, supported by a vibrant youth population making a global impact.”
With over 90 million people under 18 years of age, Nigeria ranks as the world’s third-largest youth population, trailing only India and China.
So far, Nigeria’s international education activities have negatively influenced the economy, leading to substantial forex outflows for tuition fees and personal transport allowances, which have taken a large portion of the Central Bank of Nigeria’s forex subsidies and contributed to the naira’s poor performance.
