“Nigeria Loses $500 Million Annually to European & American Universities” – Committee of Vice Chancellors of Nigeria

Every year, hundreds of Nigerian students leave the shores of the country to further their education in other more advanced countries, spending millions of dollars in the process. At the top of the list of favoured institutions are those in European and American countries.

The Committee of Vice-Chancellors (CVC) of Nigeria reiterated this at the weekend saying that Nigerians spend an average of $500 million annually on European and American universities.

This was contained in a communiqué issued at the end of a two-day Consultative Policy Dialogue on the Future and Relevance of the Nigerian Universities and other Tertiary Institutions, organised by CVC and Trust Africa, Dakar.

What is also interesting about this figure is that the amount is about 70 per cent of the total allocation in 2008 to all Federal Universities in Nigeria. According to the News Agency of Nigeria, the communiqué which was signed by Prof. Michael Faborode is an indication of the loss of faith in Nigerian universities as shown by the rush for foreign institutions, even to other African countries. The committee noted that constant restiveness of students between host communities, school administration, weak governance structures and processes were some of the challenges facing the Nigerian Higher Education sector.

If Nigerians are spending up to 70 per cent of the total allocation in 2008 to all Federal Universities in Nigeria studying abroad, that is indeed a huge amount. It presents a bleak future for Nigerian Universities. The Vice Chancellors have done well in revealing the statistics, however, it is not enough to know the amount being spent by Nigerians studying abroad but to find ways to tackle the inherent problem of underdevelopment of Nigerian Universities. If our own Universities were better developed with world standard facilities, there would be no need to spend such large sums of money studying abroad.

6 Comments on “Nigeria Loses $500 Million Annually to European & American Universities” – Committee of Vice Chancellors of Nigeria
  • pynk December 4, 2012 at 8:19 am

    Really why is anyone suprised? We can barely get anything right.

  • mm December 4, 2012 at 9:17 am

    good! and they better plan to lose more cos my masters is def overseas…sure thing!

  • Brandigest December 4, 2012 at 9:28 am

    In as much as we blame government for the decay in our Univeersities, the Vice Chancelors should also share in it… All over the world the University raises its own money, pitch, propose researches that attract grants and sponsorship, attract the industry to its four walls for business and other businesses. Here what the VCs does is to seat and wait for money to come from government. They pay salaries and squander the rest. No plan to make its own money, upgrade and grow just like the rest all over the world.
    http://www.brandigest.wordpress.com

  • nana December 4, 2012 at 9:43 am

    No one is shocked about this. I mean, the education system is just too poor. except the few private universities in Nigeria. Until they get it right, then people will stop sending their kids overseas. I doubt that will happen anytime soon. Lets face it, schooling in industrialized countries has A LOT of advantages.

  • ij December 4, 2012 at 11:04 am

    of course they will blame to govt for everything, their counterparts abroad are busy discovering ways of income generation they are busy doing Oliver twist .
    Almost all universities abroad have an entrepreneurial side (and i’m not talking about selling pure water) , some lease out office spaces to small businesses (incubators) , apart from paying rent, the small business taps into the knowledge that exists in the universities ,this also gives room for internship opportunities for their students , some universities partner with big research companies , they bid for funding together . Some have in house catering outfits, they have event spaces etc.
    These universities are forced to rely on other means of income generation other than the govt and foreign student tuition

  • Post a comment