Foreign education cost Nigeria $28.65bn from 2010 to 2020, with Personal Transport Allowance totalling $58.7bn, a report by the Office of the Deputy Speaker, House of Representatives, quoting the Central Bank of Nigeria, has disclosed.
In a statement, the office noted that redirecting a portion of the funds to ventures within the country could have significantly strengthened the naira, adding that promoting transnational education in the country “is pivotal for boosting the economy” and alleviating forex pressure.
The statement also noted that offering scholarships and fostering partnerships for in-country foreign education delivery could help Nigeria attract more transnational education providers, solidifying its position as Africa’s largest market for international education.
It also noted that collaborative efforts would play a vital role in improving the transnational education landscape in Nigeria.
“There is an urgent need for legislative framework to create policies that will enable the Federal Government develop a sustainable transnational education sector.
“These policies would facilitate the transformation of six universities into transnational tertiary educational institutions, boosting the country’s Gross Domestic Product through education exports, and establishing a roadmap for long-term market growth,” the report added.
According to the statement, safeguarding Nigerian students abroad is paramount, with a task force focusing on qualification recognition and insurance schemes.
Championing this policy transformative effort is a senior legislative aide in the Office of the Deputy Speaker, Osobase Ehizua, whose commitment to robust legislative frameworks aligns with the vision of the Deputy Speaker, Benjamin Kalu, in supporting President Bola Tinubu’s Renewed Hope Agenda at the legislative level.
Collaborating with educational and diplomatic bodies, Ehizua is spearheading the legislative framework for the establishment of International Education Commission, emphasising excellence and collaboration.
“Efforts under Ehizua’s leadership aim to create a legislative roadmap for transnational education in the country. The goal is to fortify the education sector, enhance bilateral relations and leverage education as an exportable resource for economic growth. The proposed International Education Commission Bill seeks to foster peace, justice and the safety of Nigerian students abroad.
“Education, as an exportable service, holds immense potential for Nigeria. So, embracing transnational education enables Nigeria to expand international education access and strengthen collaborations with global partners. This strategic move goes beyond academics, fostering cultural exchange, knowledge sharing and skills development,” the statement noted.
