Nigeria's Super Eagles returned home to a heroic welcome earlier this week, despite losing last Sunday's AFCON final to hosts Cote d'Ivoire. Though low-spirited for not bringing home the trophy, the Super Eagles stars were encouraged by being awarded one of the highest national honors by the state.
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Nigerian students are increasingly turning away from pursuing their undergraduate studies in the United Kingdom. Official statistics released last week reveal that the number of applicants from Nigeria has declined by a staggering 46 per cent, more than any other country in the period under review.
According to reports, the notable decrease in applications from Nigerian students is believed to be closely associated with the weakening of the naira and the visa restrictions preventing them from bringing along dependents or close family members to the UK. The report highlighted that Nigerian students had the highest number of dependents brought in by international students as of September 2023.
The Economic Times of India also reported a mirroring trend observed among Indian students who are increasingly losing interest in pursuing their undergraduate studies in the United Kingdom. The report noted that Indian student applications fell by 4 per cent compared to the previous year, amounting to 8,770 applications.
In comparison, Nigerian applications witnessed a sharp decline of 46 per cent, totalling 1,590 applications, more than any other country.
Data from the UK Universities and College Admissions Service (UCAS) on undergraduate student applicants for the 2024-25 academic year also revealed a 1% decline in UK applicants from a year earlier. However, the overall number of applicants remains well above pre-pandemic levels.
"While today's data shows a decline in applications from mature students, which will be more keenly felt in some subjects such as nursing, we know that these applicants are more likely to apply later in the cycle," Dr. Jo Saxton, Chief Executive at UCAS, said.
"For any students who missed the deadline or are still undecided on their next steps into higher education, they can still apply until June 30, and afterwards directly to Clearing, and plenty of choices still remain. There is a wealth of support, guidance, and tips on the UCAS website to help anyone make informed choices about their futures," she added.
In December 2023, the Rishi Sunak-led government announced a review of the Graduate Route visa, allowing graduates to stay and gain work experience in the UK for at least two years after completing their degree. According to experts, potential changes to the UK's visa policy may reduce the appeal of UK universities to overseas students.
By Victor Oluwole, Business Insider Africa
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The Nigerian naira fell to record lows on both the official and unofficial markets on Monday, while stocks posted their biggest one-day fall in more than a year, as jittery investors sold off local assets.
The currency dropped to 1,712 naira per dollar in late trades on the official market and to around the same level on the unofficial market after extending losses.
Africa's largest economy has been experiencing crippling dollar shortages that have pushed its currency to record lows, though central bank Governor Olayemi Cardoso has said that foreign exchange liquidity is improving.
The latest fall on the currency and stock markets comes after data showed on Thursday that the country's inflation rate had accelerated further in January, reaching almost 30% in annual terms, driven by soaring food costs.
"Without policy moves in sight to rein in inflation, the naira will continue to devalue simply on a purchasing power basis. There are also risks that it could further deter foreign investors, given the increasingly negative real yield found in Nigerian debt securities," said Kyle Chapman, FX markets analyst at London-based Ballinger & Co.
Stocks on Nigeria's All-Share Index fell 3.15% on Monday after banking, consumer goods and industrial shares dropped, to post their single biggest fall since Oct. 2022.
Heavyweight Dangote Cement and MTN each fell the maximum 10% allowed on the bourse, to help drag the index to 102,395.21 points.
Stocks had been acting as a hedge against inflation for investors.
Cardoso has hiked open market rates to draw investors to bills which had lost their shine to equities as inflation climbed, but treasury rates still lag the benchmark policy rate and the fall in the naira means yields would have to rise further.
By Chijioke Ohuocha, Reuters
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Nigeria is considering the introduction of state police in its 36 states to bolster its national police force as it struggles to contain widespread violence and insecurity, the information minister said on Thursday.
An Islamist insurgency in the northeast, kidnappings for ransom, deadly farmer-herder clashes in the central belt and separatist and gang violence in the southeast are some of the challenges faced by Nigeria's police force.
President Bola Tinubu met the country's state governors to discuss insecurity, which is hurting farmers and contributing to high food prices and inflation.
The federal government and the state governments agreed that a state police force was necessary, marking "a significant shift" in approach, Information Minister Mohammed Idris told reporters after the meeting.
This is the first time that Nigeria's federal and state governments have agreed on the need to set up state police to reinforce the more than 300,000-strong national police force in Africa's most populous nation.
Nigerian Police Inspector General Kayode Egbetokun said last year at least 190,000 more officers were needed to secure the country adequately. He said the force was well below the United Nations' recommended ratio of one police officer to about 450 citizens.
Some states, like Lagos, have annual budgets the size of small African countries, and have long advocated for their own state police, saying this would help combat insecurity.
Ikemesit Effiong of risk consultancy SBM Intelligence said establishing state police would not solve the whole problem.
"Expanding the police force is one thing, fundamentally reframing the architecture and focus of policing from retribution and state control to investigation and crime prevention is quite another," Effiong said.
By Felix Onuah, Reuters
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President Bola Tinubu has appointed his son-in-law as the head of the Federal Housing Authority (FHA), sparking concerns about nepotism.
Oyetunde Oladimeji Ojo is married to Mr Tinubu's eldest daughter, Folashade.
This is the first time President Tinubu has selected a relative for a position in the federal government.
Announcing his appointment, the presidency said Mr Ojo had "over a decade of work experience in the housing and hospitality industries".
He is also a former member of the House of Representatives.
But there has been a strong reaction on social media with some arguing that there were more qualified and deserving candidates than Mr Ojo.
"Blatant nepotism is a leadership weakness. It's unfortunate Nigerian leaders don't see it as a form of ethical failure," one person posted on X.
Some have come out to defend the naming of Mr Ojo for the role, saying his relationship with the president should not bar him from government jobs.
His appointment was part of the president's move to overhaul the management of the housing ministry.
The FHA, which falls under the ministry, is supposed to help deliver affordable homes across Nigeria.
The government did not immediately comment on the criticisms raised about the appointment.
By Wycliffe Muia, BBC
