Naira: Nigerian Students Face Tough Times In UK, Tuition Soars By 60%

Many Nigerian students are facing tough times in the United Kingdom after the naira equivalent of their tuition fees increased by over 60 per cent.

About two weeks after President Bola Tinubu promised to unify the nation’s multiple exchange rates, the apex bank decided to float the naira at the Investors and Exporters’ Window of the foreign exchange market. Since then, the naira has fallen from N471/dollar to N750/dollar and N589.4/pound to N957.2/pound.

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This has led to about 60 per cent increase in tuition fees for students in the UK.

This rise in exchange rate has put more pressure on many Nigerians that are schooling in the UK and beyond.

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The UK is one of the destinations of choice for many Nigerians as 128,770 Nigerian students enrolled in universities in the United Kingdom between 2015 and 2022 according to data from the Higher Education Statistics Agency of the UK

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