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
