Based on request in a private
discussion, I had to write this. A senior classmate was interested in
extra private-public opinion, and he thought of me. How thoughtful. The
subject is about the interview our president granted Al-Jazeera where he
hinted policy direction in a domestic discussion with the interviewer.
The president said; “Not every Nigerian
can afford it and the country cannot continue to subsidize the forex
needs of everyone.” When asked about how he funds his kids studying
abroad he said “I can afford it.”
He also stated that; “We have to
consider the consequences on the economy and Nigeria as a whole. “So if
some parents are finding it difficult to pay, let them return their kids
to Nigeria to complete their education.”
It’s unfortunate that Nigeria is stuck
in with forex challenges and will most likely struggle to satisfy local
demand for forex with the pegging policy currently pursued by this
administration.
However, what is most unfortunate is
lack of understanding on the part of the president in his evident
categorization of academic study as a lifestyle consumption of forex.
The president needs to realize that asides industry, the most
sustainable economy in any country is the knowledge economy.
Many people travel to satisfy a demand
that can’t be met at home and probably won’t be in a while. This
assertion is inferred from the poor funding of education in Nigeria as
well as an age long and archaic education philosophy of rote learning.
Learning devoid of practical and vocational knowledge. It’s unfortunate,
that Buhari can subsidize Dangote and say that parents that have taken
the initiative to send their wards abroad should bring their kids back
home? Back to darkness? Back to a country where the Vice-President’s
library gets more allocation that 11 polytechnics put together. Back to a
country where WAE and NECO is the holy grail of education? Impossible
Mr President!
Currently, according to Rabiu Samad,
here 50% of Nigeria’s forex is handed to just 50 companies in Nigeria.
Dangote is apparently also being subsidized with our scarce forex to
build cement plants in Congo. Just imagine, parents are in need of forex
to train the next generation of knowledge workers for our country, a
responsibility government has failed in for years and don’t look like
they will pass anytime soon and we are subsidizing Dangote’s plant
according to Samad in Congo. The plant costs $292.2million.
