The Central Bank of Nigeria (CBN) has disclosed that foreign education has cost Nigeria a whopping sum of $28.65 billion between 2010 and 2020 (10 years).
According to CBN, “Over the last 10 years, therefore, foreign exchange demand specifically for education and healthcare has cost the country almost $40 billion.
“As you may know, this amount is equivalent to the total current foreign exchange reserves of the CBN. If we were able to avoid a significant portion of this demand, the Naira would be much stronger today,” it stated.
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CREDIT: ALLSCHOOL, Nigerian Tribune
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