Nigerians Spend $1.39 Billion on Foreign Education, Seeking Better Opportunities Abroad

Nigerians reportedly spent $1.39 billion on foreign education in the first half of 2025, as per the Central Bank of Nigeria (CBN) data. This significant outflow is attributed to the growing number of Nigerians pursuing academic and economic opportunities abroad due to insecurity, unstable academic calendars, infrastructure challenges, and industrial actions affecting local tertiary education.

The trend persists despite the weaker Naira and higher costs. Experts note that households view foreign education as an investment in a stable future for their children.

Amaka Okek from Optiva Capital Partners highlighted the increasing pursuit of second citizenship for global opportunities.