|
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said annual foreign exchange outflow on study-related to the UK has hit about $2.5bn as visa applications increased.
“To put this drawback into perspective, it is equally no news that the number of student visas issued to Nigerians by the UK alone has increased from an annual average of about 8,000 visas as of 2020 to nearly 66,000 in 2022, which implies an eight-fold surge to about $2.5bn annually in study-related foreign exchange outflow to the UK alone. More details at: https://punchng.com/annual-uk-study-expenses-hits-2-5bn-amid-forex-scarcity
0 Comments
Nigerian students and their dependents in the United Kingdom have contributed an estimated $2.1bn to the economy of the UK in one year, according to an analysis by SBM Intelligence.
The data covered the 2021/2022 academic session. In the data made available to our correspondent on Wednesday, it was estimated that a sum of $763.9m was reportedly paid as school fees with a total of $60.9m paid in taxes by working spouses of the students. Further analysis of the data also revealed an estimated sum of $46.8m paid as health insurance; $458.2m was paid as rent while a total of $169.8m was paid as national insurance. More details at: https://punchng.com/nigerian-students-dependants-contribute-1-9bn-to-uk-report Nigerians continue to troop in their numbers in pursuit of foreign academic qualifications; for many of them, it is a means of leaving the country. A cursory review of Nigeria’s balance of payment report showed that Nigerians spent a sum of $11.6 billion on foreign education between 2019 and to date.
On the flip side, the African giant did not attract any form of inflow from foreign students. This is not surprising given the current state of the Nigerian educational system, with university students counting over seven months at home as a result of ASUU strike actions. A further look at the data showed that the amount spent by Nigerians on foreign education dropped significantly in the second half of 2020 following the movement restrictions placed by most economies to curb the spread of COVID-19 in 2020. More details at: https://nairametrics.com/2022/10/06/nigerians-spend-11-6-billion-on-foreign-education-in-3-years An analysis of data obtained from the Central Bank of Nigeria showed that Nigerians spent at least $220.86 million on foreign education between December 2021 and February 2022.
This is according to the CBN data on the amount spent on educational service under the sectoral utilisation for transactions valid for foreign exchange for December 2021 to February 2022. In December 2021, the apex bank stated that it spent $90.67m on foreign education… More details through: https://punchng.com/nigerians-spend-221m-on-foreign-education-in-three-months-cbn-report/ NIGERIANS spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020, according to the Central Bank of Nigeria data.
According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for their wards to study abroad during the period under review. The BoP report also revealed that Nigerians paid $11.01bn for healthcare-related services in foreign countries… More details through: https://punchng.com/nigerians-spend-39-66bn-on-foreign-education-medical-tourism-cbn-report/ The number of Nigerian students granted sponsored-study visas to the United Kingdom (UK) has increased by 368 percent within two years to a record high of 36,783, an official data from the British government show.
“In the top five nationalities, Nigerian nationals (citizens) saw the largest relative increase in sponsored study grants compared increasing by 28,923 (+368%) to a record high of 36,783, making them the third-largest nationality group in 2021,” information from the UK’s immigration website shows. In terms of nationalities granted visa to the UK, the data show from September 2019 – September 2021, other countries such as Pakistan, India, China, and the United States also recorded 225 percent, 197 percent, 13 percent, and 3 percent, respectively… More details through: https://businessday.ng/education/article/nigerians-sees-the-largest-increase-in-uk-scholarships/ Torrens University, Australia varsity said it has signed a partnership deal with Ehizua Hub to provide students in Africa with greater access to online study options. The Nigerian-based Ehizua Hub is a social enterprise that provides equal access to education, as well as fostering innovation and entrepreneurship by bridging financial and digital divides…
More details through: https://businessday.ng/technology/article/australia-varsity-partners-ehizua-hub-to-expand-access-to-online-learning/ The federal government and Microsoft Corporation on Monday announced a partnership that will benefit about five million Nigerians from a digital upskilling programme in three years.
The partnership anchored on connectivity, skilling and digital transformation followed discussions between both parties led by Vice President Yemi Osinbajo and Microsoft President Brad Smith earlier in the year. Under the programme, locations in each of the six geopolitical zones in Nigeria will also enjoy active internet connection and cloud services courtesy of this digital transformation plan… More details through: https://dailytrust.com/fg-microsoft-to-equip-5m-nigerians-with-digital-skills In its renewed efforts to reach out to students and youths in underserved communities, the US Mission in Nigeria, recently opened a new Education USA Advising Centre in Calabar, Cross River State.
The Calabar EducationUSA Advising Center will offer accurate, unbiased, and comprehensive information about educational institutions in the United States, as well as guidance to prospective students on how best to access those opportunities… More details through: https://www.thisdaylive.com/index.php/2021/03/25/us-opens-advisory-centre-in-calabar/ The Full-time MBA programme of Lagos Business School has been ranked among the top 100 in the world according to The Economist’s WhichMBA? 2021 ranking.
The Economist 2021 ranking evaluated full-time MBA programmes from 90 business schools across the world based on four broad criteria, including open new career opportunities, Personal development and educational experience, Salary, and Potential to network. According to a statement, the Economist collated data from eligible schools on areas such as the percentage of graduates who receive a job offer after 3 months of graduation, ratio of faculty to students, average GMAT score, student and faculty gender diversity, among others… More details through: https://www.thisdaylive.com/index.php/2021/01/28/lagos-business-schools-mba-ranked-top-100-in-world-2/ |
Categories
All
Archives
December 2022
News Archive from before July 2018
|
RSS Feed