Weak Naira Threatens Nigerians’ Ability To Afford International Degree
as tuition fee increases by N2m amid dollar shortage . …education consultants expect a spike in scholarship applications.
As dollar shortage in Nigeria persists amid falling oil prices due to the global demand drop in the wake of the coronavirus pandemic, the central bank weakened the naira on the official window to N390 against the dollar.
Nigeria’s foreign-currency shortage is not only squeezing the life out of Africa’s largest economy, it is also threatening the ability of many Nigerians to afford an international degree. On the back of naira depreciation, new and continuing Nigerian students who will be resuming schools abroad for the 2021/2022 academic session could be paying as much…
– Businessday