Nigeria’s Spending on Foreign Education Drops by 83% in Early 2024

Nigerians allocated $38.17 million to foreign education expenses between January and March 2024, a significant drop from the $218.87 million spent in the same period last year, according to the Central Bank of Nigeria’s quarterly statistical bulletin. Despite this year-on-year decline, there was a 54% increase from the $24.82 million spent in Q4 2023. The decrease in foreign education spending comes amid a downturn in international student enrolment at UK universities earlier this year.