Nigerians spent $609.5m on foreign education between January and August 2022, figures from the Central Bank of Nigeria (CBN) show.
The figure is based on the information provided on the amount spent on educational services under the sectoral utilisation for transactions valid for foreign exchange.
In April, there was a little reduction as a total of $78.62m was recorded by the apex bank.
The figure for May 2022 was stated as $82.70m.
Further analysis revealed that in June 2022, the apex bank released $84.90m, while a total of $61.99m was released in July 2022.
A slight increase was recorded in August 2022 when a total of $84.01 million was released.
Recent data released by the home office of the United Kingdom revealed that the number of study visas released to Nigerians increased by 222.8 percent, with 65,929 issued as at June 2022 as against 20,427 in the same period in 2021.
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