The cbn governor blamed the scarcity of dollars to Nigeria student in abroad. He claims that 98 billion dollars was spent on study abroad.

This claims do not hold water if you justapox it with other factors

1- when students travel abroad some work while some graduate and get a job or life over there. They earn money and send back. In 2023 alone the diaspora remittance to Nigeria is $20 billion. If you extend this to 10 years you can look at 150 to 200 billion dollars. A plus on the account or balance sheet. So how does that affect or make sense.
https://www.google.com/amp/s/punchng.com/nigerias-diaspora-remittances-will-exceed-20bn-in-2023-wbank/%3famp

2- when CBN governor says that students paid 98 billion. The question I ask is were these students sponsored by the government? The government can not say they paid a dime to sponsor a vast majority of these students. Besides this is their hard earned money and majority of them got the dollar in the black market. The dollar remittance from crude oil is not in anyway involved in paying these students fees. Why say that is the cause of dollar scarcity when banks don't even sell dollars except the abokis who sell in black market.

3- why has Cardoso refused to blame politicians who store money in foreign currency to the tune of billions. Abacha loot recovery has been in dollars with not visible usage. What happened to these dollars.
https://www.thecable.ng/abacha-loot-who-will-recover-loot-of-other-nigerian-leaders/amp

4- We seem to forget subsidy removal so quickly. Before President Tinubu’s inauguration, the Nigerian government spent ₦400 billion (about $500 million) monthly to subsidize petroleum imports, according to Mele Kyari, chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), licensed to operate in Nigeria’s oil industry.
https://www.un.org/africarenewal/magazine/august-2023/nigeria-ends-oil-subsidy-invest-savings-infrastructure-development

In 7 months we should have 7 x 500 million dollars. What has the 3.5 billion dollars been used for. Why do we still see queue in gas stations.

5- why does the Nigeria government believe that only monetary policies will save the nation. No agricultural policy like operation feed the nation or activate agriculture. No aim to self reliance.

6- Why does Cardoso sound like a politician. You don't blame the expenses. You increase your income. If we spend more on something the next thing is to increase the income not blame the end users

$98 billion about N98 trillion wasted on so called STUDY ABROAD? AND YET NIGERIAN UNIVERSITY LECTURERS ARE NOT PAID, WHY?

Yugoslavia247:
The cbn governor blamed the scarcity of dollars to Nigeria student in abroad. He claims that 98 billion dollars was spent on study abroad.

This claims do not hold water if you justapox it with other factors

1- when students travel abroad some work while some graduate and get a job or life over there. They earn money and send back. In 2023 alone the diaspora remittance to Nigeria is $20 billion. If you extend this to 10 years you can look at 150 to 200 billion dollars. A plus on the account or balance sheet. So how does that affect or make sense.
https://www.google.com/amp/s/punchng.com/nigerias-diaspora-remittances-will-exceed-20bn-in-2023-wbank/%3famp

2- when CBN governor says that students paid 98 billion. The question I ask is were these students sponsored by the government? The government can not say they paid a dime to sponsor a vast majority of these students. Besides this is their hard earned money and majority of them got the dollar in the black market. The dollar remittance from crude oil is not in anyway involved in paying these students fees. Why say that is the cause of dollar scarcity when banks don't even sell dollars except the abokis who sell in black market.

3- why has Cardoso refused to blame politicians who store money in foreign currency to the tune of billions. Abacha loot recovery has been in dollars with not visible usage. What happened to these dollars.
https://www.thecable.ng/abacha-loot-who-will-recover-loot-of-other-nigerian-leaders/amp

4- We seem to forget subsidy removal so quickly. Before President Tinubu’s inauguration, the Nigerian government spent ₦400 billion (about $500 million) monthly to subsidize petroleum imports, according to Mele Kyari, chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), licensed to operate in Nigeria’s oil industry.
https://www.un.org/africarenewal/magazine/august-2023/nigeria-ends-oil-subsidy-invest-savings-infrastructure-development

In 7 months we should have 7 x 500 million dollars. What has the 3.5 billion dollars been used for. Why do we still see queue in gas stations.

5- why does the Nigeria government believe that only monetary policies will save the nation. No agricultural policy like operation feed the nation or activate agriculture. No aim to self reliance.

6- Why does Cardoso sound like a politician. You don't blame the expenses. You increase your income. If we spend more on something the next thing is to increase the income not blame the end users

How did they get visa in Nigeria without paying tuition fees?

The point is they paid in pounds or dollars while in Nigeria before moving abroad to start working and school at the same time.

Please, take note out of 100% students studying abroad probably 10 - 15% are working. The rest are mama children. Their parents pay their school fees from Nigeria here. Gbam.

Did the CBN governor say it is only those who go to study abroad that caused the dollar scarcity or that he only started how much we spent on foreign education in addition to other factors?

With regards to remittances, CBN has also said those diaspora remittances do not even get to Nigeria again. The fintech companies now make it possible for such exchanges to now happen in offshore accounts, so those values about remittances are only on paper. They do not arrive here.

Yugoslavia247:
The cbn governor blamed the scarcity of dollars to Nigeria student in abroad. He claims that 98 billion dollars was spent on study abroad.
...