How Nigerians’ study abroad quest is fuelling advanced economies

Nigeria has become one of the top countries for individuals aspiring to pursue higher education abroad, particularly in the United Kingdom. The impact of Nigerian students on the UK economy is staggering, with a conservative estimate stating that their contribution for the 2021/2022 academic year is a substantial £1.9 billion. Tunde Leye, a partner at SBM Intelligence, sheds light on this phenomenon and its implications in a recent interview on CNBC Africa. The report titled 'The Empire Strikes Back: How Britain is Handling Japa Wave' highlights the significant financial contributions of Nigerian students and their dependents to the UK economy, emphasizing the challenges faced by Nigeria as a result. Leye points out that the influx of Nigerian immigrants, particularly those seeking education in the UK, underscores the issue of brain drain and the potential loss to the Nigerian economy. He attributes this trend to both the success of British policies post-Brexit and the failures of Nigerian governance and economic systems. The deliberate efforts by the British government to attract international students, with a target of 600,000 students annually, have led to a substantial income of over $35 billion per year from this demographic. On the other hand, the Nigerian students migrating to the UK are often older individuals with families, seeking better opportunities and a more stable environment due to challenges back home. The report indicates that the majority of Nigerian students moving to the UK are not just seeking education but are also using it as a springboard to relocate their families and start afresh in a new country. This mass exodus reflects the disillusionment with the Nigerian economy, marked by inflation, insecurity, unemployment, and limited prospects for future generations. Looking ahead to the academic year 2022/2023, Leye predicts a continued increase in the number of Nigerian students seeking to relocate to the UK, driven by persistent economic and social challenges in their home country. He contrasts the Nigerian situation with countries like China and India, which have higher numbers of students studying abroad but a lower proportion of individuals seeking to permanently resettle. While the British government has faced criticism for its perceived view of students as economic burdens, research shows that international students are a net positive for the UK economy, with each student contributing approximately £400 to £700 per year. Leye emphasizes that the financial burden of studying abroad is significant, with costs ranging from tuition fees of around £20,000 to living expenses, visa fees, healthcare fees, and taxes. Despite the challenges and costs involved in studying abroad, the allure of better opportunities and a more stable environment continues to drive Nigerian students to seek education in the UK, contributing significantly to the British economy. As the trend persists, it raises questions about the long-term impact on Nigeria's development and the need for reforms to retain talent and investment within the country.