Nigerians spend about $2 billion annually on education abroad, Chairman, Senate Committee on Tertiary Education and TETFund, Senator Binta Garba has said.
The money, she disclosed, is expended by elites who crave for foreign education for their wards.
The Senator spoke on Tuesday at the inauguration of new governing board of 12 Federal universities in Abuja.
According to her: “Capital flight from education in Nigeria is about $2 billion. This is something we must work hard to put a stop to.
“We at the National Assembly (NASS) are projecting that before 2019, there should be a very drastic reduction of such funds going out of the country.”
She also commended efforts to scale up tertiary institutions in the country to become top among 1000 best universities in the world.
Earlier, the Minister of Education, Alh Adamu Adamu argued that the decision to appoint 12 new Vice Chancellors (VC) before inaugurating board members of the universities was in order.
The 12 federal universities were established by ex-President, Goodluck Jonathan.
The Academic Staff Union of Universities (ASUU) claimed otherwise that the governing board of the federal universities should have been inaugurated before the new VCs were appointed.
ASUU also faulted the sack of the VCs by the government, insisting that only the governing councils reserved such rights.
The Union also criticised the establishment of the universities which it said were also not properly gazetted.
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