Sunday, 2 December 2012

Nigeria loses N78.5bn annually to foreign varsities! Can that be true?

The Committee of Vice Chancellors of Nigerian Universities said on Saturday that Nigerians spend an average of $500m (N78.5bn) annually on European and American universities. According to the News Agency of Nigeria, the communique, signed by Prof. Michael Faborode, noted that the amount was about 70 per cent of the total allocation in 2008 to all federal universities. Hmmmmm! Is this an indication of the loss of faith in Nigerian universities?

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