Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, stated that the high number of Nigerians in foreign schools and medical tourism are putting pressure on the naira. He mentioned that the demand for dollars by these students and medical travelers is hurting the currency. The number of Nigerian students studying abroad has significantly increased and is estimated to be over 100,000.
Between 2010 and 2020, Nigerians spent more than $40 billion on education and healthcare outside the country, surpassing the foreign reserve. It is projected that the number of Nigerian students studying abroad will exceed 100,000 by 2022
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