Students abroad ‘stranded’ following economic woes

A sharp drop in oil revenue – Nigeria’s principal

source of foreign exchange – coupled with the

tight fiscal policies of the new government, have

threatened the well-being of Nigerians studying

abroad. Many are reportedly stranded and there

are concerns that students might be among

29,000 Nigerians reportedly targeted for

repatriation by the British government.

The UNESCO Institute for Statistics estimates

that there are some 52,000 Nigerian students

abroad, including 17,300 in the top destination

country the United Kingdom. The New York-based

Institute of International Education reports

nearly 8,000 Nigerians studying in the United

States.

The number of Nigerian students abroad could be

considerably higher, as their numbers in other

African countries such as Ghana and South Africa

appear to be under-reported.

The Nigerian government, with its strategy of

developing a well-educated youth, encouraged

students to study abroad and facilitated their

easy and legal access to money while in foreign

countries though the Central Bank of Nigeria.

Foreign universities also used the recent oil boom

to organise annual exhibitions in Lagos, the

capital Abuja, Port Harcourt and Ibadan. Human

resources experts were sent to encourage

Nigerian students to enrol in foreign

universities.

Parents in the upper and middle classes were able

to gain admission for their children in

universities in North America, Europe, Southeast

Asia and South Africa, to name just a few.

The crisis and its causes

During the recent oil boom in Nigeria, the

country’s Bonny Light crude oil sold at over US

$100 a barrel. The United States, however, has

now begun producing its own shale oil and gas,

which has resulted in a sharp decline in their gas

imports.

The US has also become a major exporter of cheap

oil and gas to countries such as India and China,

thus robbing Nigeria of some of its most lucrative

customers. This has led to a plummeting of the

Nigerian crude oil price to approximately US$50.

During the last general elections, Nigeria was

faced with rampant raiding of foreign reserves

by its own political elite. In an attempt to arrest

this haemorrhage of foreign reserves through

money laundering and financial corruption, newly

elected President Muhammadu Buhari clamped

down on the use of foreign exchange.

He ordered the Central Bank governor to partially

freeze all domiciliary accounts in foreign

currencies, thereby preventing companies and

individuals from depositing foreign currencies

into their accounts. Credit cards of naira

denomination issued by commercial banks were

also de-activated.

Impact of austerity measures

The resultant oil glut has impacted negatively on

social services in Nigeria. With the stringent

foreign exchange rules, it has become almost

impossible for parents or government agencies to

assist students abroad.

For the first time in Nigeria’s recent history,

several thousand citizens studying at various

universities around the world are ‘stranded’.

They have sent distress calls to the Nigerian

government for assistance.

To make matters more complex, many host

countries no longer allow foreign students to

undertake part-time work to help fund their

tuition and living expenses. This is as a result of

many host countries facing their own economic

challenges, leading to higher unemployment rates

among university graduates.

Reactions

Students from the Niger Delta are beneficiaries

of an amnesty programme instituted by the

federal government. This was done in the

interests of a peaceful environment for oil

production in the area.

These students have not received payment for

many months and Pastor Reuben Wilson from the

Leadership Peace and Cultural Development

Initiative has urged Buhari to assist them. This

has resulted in an instruction to the Amnesty

Office to remit funds to those students.

In addition, Rivers State Governor Nyesom Wike

has arranged payment of US$3.6 million to settle

the debts of the state’s final-year students

abroad, A sharp drop in oil revenue – Nigeria’s principal

 

source of foreign exchange – coupled with the

 

tight fiscal policies of the new government, have

 

threatened the well-being of Nigerians studying

 

abroad. Many are reportedly stranded and there

 

are concerns that students might be among

 

29,000 Nigerians reportedly targeted for

 

repatriation by the British government.

 

The UNESCO Institute for Statistics estimates

 

that there are some 52,000 Nigerian students

 

abroad, including 17,300 in the top destination

 

country the United Kingdom. The New York-based

 

Institute of International Education reports

 

nearly 8,000 Nigerians studying in the United

 

States.

 

The number of Nigerian students abroad could be

 

considerably higher, as their numbers in other

 

African countries such as Ghana and South Africa

 

appear to be under-reported.

 

The Nigerian government, with its strategy of

 

developing a well-educated youth, encouraged

 

students to study abroad and facilitated their

 

easy and legal access to money while in foreign

 

countries though the Central Bank of Nigeria.

 

Foreign universities also used the recent oil boom

 

to organise annual exhibitions in Lagos, the

 

capital Abuja, Port Harcourt and Ibadan. Human

 

resources experts were sent to encourage

 

Nigerian students to enrol in foreign

 

universities.

 

Parents in the upper and middle classes were able

 

to gain admission for their children in

 

universities in North America, Europe, Southeast

 

Asia and South Africa, to name just a few.

 

The crisis and its causes

 

During the recent oil boom in Nigeria, the

 

country’s Bonny Light crude oil sold at over US

 

$100 a barrel. The United States, however, has

 

now begun producing its own shale oil and gas,

 

which has resulted in a sharp decline in their gas

 

imports.

 

The US has also become a major exporter of cheap

 

oil and gas to countries such as India and China,

 

thus robbing Nigeria of some of its most lucrative

 

customers. This has led to a plummeting of the

 

Nigerian crude oil price to approximately US$50.

 

During the last general elections, Nigeria was

 

faced with rampant raiding of foreign reserves

 

by its own political elite. In an attempt to arrest

 

this haemorrhage of foreign reserves through

 

money laundering and financial corruption, newly

 

elected President Muhammadu Buhari clamped

 

down on the use of foreign exchange.

 

He ordered the Central Bank governor to partially

 

freeze all domiciliary accounts in foreign

 

currencies, thereby preventing companies and

 

individuals from depositing foreign currencies

 

into their accounts. Credit cards of naira

 

denomination issued by commercial banks were

 

also de-activated.

 

Impact of austerity measures

 

The resultant oil glut has impacted negatively on

 

social services in Nigeria. With the stringent

 

foreign exchange rules, it has become almost

 

impossible for parents or government agencies to

 

assist students abroad.

 

For the first time in Nigeria’s recent history,

 

several thousand citizens studying at various

 

universities around the world are ‘stranded’.

 

They have sent distress calls to the Nigerian

 

government for assistance.

 

To make matters more complex, many host

 

countries no longer allow foreign students to

 

undertake part-time work to help fund their

 

tuition and living expenses. This is as a result of

 

many host countries facing their own economic

 

challenges, leading to higher unemployment rates

 

among university graduates.

 

Reactions

 

Students from the Niger Delta are beneficiaries

 

of an amnesty programme instituted by the

 

federal government. This was done in the

 

interests of a peaceful environment for oil

 

production in the area.

 

These students have not received payment for

 

many months and Pastor Reuben Wilson from the

 

Leadership Peace and Cultural Development

 

Initiative has urged Buhari to assist them. This

 

has resulted in an instruction to the Amnesty

 

Office to remit funds to those students.

 

In addition, Rivers State Governor Nyesom Wike

 

has arranged payment of US$3.6 million to settle

 

the debts of the state’s final-year students

 

abroad, enabling them to sit their final exams.

However, the fate of other students remains

unresolved.

The president of the Association of Federal

Government Doctoral Candidates in Russia

disclosed that “students from Nigeria on

scholarship in Russia and other countries, namely

Morocco, Algeria, Cuba, Serbia, Turkey, China

and Romania, are all stranded”.

He said their scholarship stipends had not been

paid for the past six months, the excuse being

that the “budget is yet to be signed”.

Abike Dabiri-Erewa, chair of the House of

Representative’s committee on diaspora affairs,

announced that the United Kingdom government

was making plans to repatriate about 29,000

Nigerians who do not have the required resident

papers.

According to reliable sources, stranded Nigerian

students may be among those to be repatriated. t