Every year Nigeria loses N1 trillion to students schooling abroad
Nigeria loses revenue annually because of the choice of Nigeria students gain an education in other countries.
Nigeria loses N1 trillion because students school abroad.
At Crawford University’s recent convocation in Lagos, a former vice chancellor of the Covenant University, Professor Charles Ayo said that Nigeria loses at least N1 trillion to education tourism.
Ayo appealed to Nigerians to patronize Nigerian universities, especially the private universities, which he said had come to provide moral training and quality education at a relatively cheaper rate than most universities outside the country. He said currently about 75,000 Nigerians are currently studying in Ghana, Benin Republic, and Egypt.
He said, “The role of private universities is grossly misunderstood by many Nigerians, particularly our colleagues in the public universities. They go with the wrong impression of a business enterprise rather than being institutions borne out of deliberate and calculated intentions to offer rounded education to address the level of social vices in the country as well as offer quality education that is comparable to the delivery of the first generation universities in the 1960s.”
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According to him, out of the top 20 universities in the 2011 and 2012 rankings of world-class universities by the Times Higher Education ranking parameters, the best five universities in 2011 were private universities, while three in 2012 were also private universities.
Out of the best 20 universities selected for each year, private universities accounted for 60% in 2011 and 55% in 2012. He noted that this means that private universities are the hope for the future of education development.
He stressed that considering the state of Nigerian economy with lack of funds and bad infrastructure, that there is no better time than now to reappraise the system and birth the expected change in the social-political, economic and technological landscape of Nigeria.