Nigerian students spend nearly £2 billion yearly in the UK

2 minute read
6 views
Nigerian students spend nearly £2 billion yearly in the UK
Nigerian students spend £2 billion on tuition, rent, health insurance, and other costs.

According to statistics analysed by SBM Intelligence from the 2021/2022 academic year, Nigerian students and their spouses made an estimated £1.9 billion in economic contributions to the UK in the previous year.

The number of school fees and taxes paid by working spouses of students was estimated by SBM Intelligence to be £680,620,000 and £54.3 million, respectively.

They reportedly paid rent of £408.37 million, national insurance of £151.26 million, and health insurance of £41.7 million.

President Muhammadu Buhari deliberately and blatantly underfunds postsecondary institutions in Nigeria, allowing his children and the offspring of other members of the political class to attend international universities with taxpayer money.

Between January and August 2022, Nigerians spent $609.5 million on international education, according to data from the Central Bank of Nigeria (CBN).

Thousands of people leave the country searching for foreign academic degrees, which for many is a way to leave the country.

Study visas for Nigerians in the UK increased by 221.8%

According to The PUNCH’s investigation, British Home Office data reveals that the number of study visas issued to Nigerians increased by 222.8% from 20,427 in June 2021 to 65,929 in June 2022.

This was partly brought on by the extended and frequent strikes by Nigerian university professors protesting the underfunding of tertiary education.

According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), the most significant number of African students studying abroad in 2018 was from Nigeria with 76,338.

Poor government policies were among the reasons given by Ayodamola Oluwatoyin, the director of the Reform Education Nigeria Programme, as to why Nigerians look for better prospects abroad.

Visa Scale-Up

Nigerians and other foreign nationals were able to apply for the 2022 Scale-up Visa in the UK starting in August.

In the view that scaling up is a crucial step for high-growth enterprises to continue developing and advancing their global competitiveness, London wants to see growing businesses acquire people to increase productivity across the economy.

In contrast to other sponsored visas, the Scale-up Visa enables companies to hire highly talented workers who will be granted two years of leave to remain in the UK and won’t require further sponsorship or authorisation after the initial six months.

Scientists, engineers, programmers, software developers, research and development specialists, economists, architects, technicians, and financial and investment consultants, among others, are anticipated to be drawn to eligible enterprises.

Small businesses, tech companies, financial services providers, and other companies that have grown their workforce or revenue by 20% or more annually for at least three years and had at least 10 employees at the beginning of the period are qualified to sponsor talented foreign nationals through the Scale-up Visa programme.

For more such updates, follow Leverage Edu News Updates.

Leave a Reply

Required fields are marked *

*

*