Preamble.
What if fixing the university academic calendar could help fix the economy? It’s not just possible; it’s already happening, albeit unnoticeably.
In Nigeria, discussions about economic growth often focus on oil, foreign investment, or monetary policy. But there’s another force at play — quiet, steady, and often overlooked: the stabilisation of our university academic calendar. I've consistently focused on this topic in the past year.
It might seem like a minor administrative achievement, but ensuring Nigerian universities remain open, predictable, and on schedule could be one of the most impactful economic policies of the decade. Each time I am asked what President Asiwaju Bola Ahmed Tinubu has recently done for us, my immediate citation-one among many-has always been the stabilisation of our academic calendar and university education in Nigeria. And we are only beginning to see the results.
When Degrees Take Seven Years
Until recently, a four-year university programme in Nigeria could take as long as seven years to complete. Endless ASUU strikes and funding disputes pushed thousands of students and their frustrated parents to seek alternatives abroad, regardless of the cost.
The result is obvious. Capital flight. Parents sold Naira, bought dollars or pounds, and sent the money out of the country to pay school fees overseas. Few realise the strain this has placed on the Naira.
When thousands of families rush to exchange Naira for foreign currency each year, not for investment or import purposes, but simply to escape our broken education system, they create unnecessary pressure on the currency. The result: a steady, avoidable depreciation of the Naira.
Black Market Demand and Unforced Depreciation
Here’s the key point: most of this demand for foreign exchange isn’t generated by businesses seeking to grow the economy. It’s from individuals trying to secure education abroad. And because they are desperate, they’re willing to buy foreign currency at any rate. Maybe you want to read the paragraph above again, because it is at the heart of this essay.
This behaviour distorts the foreign exchange market. It’s not driven by trade or investment; it’s emotional, reactive, and harmful. The Naira gets battered unnecessarily. But that has changed.
In recent months, there has been an unprecedented calm in the university system. No strikes. No mass disruptions. Just steady and uninterrupted academic activity. Slowly, pressure on the Naira has begun to ease.
Savings and Liquidity
When students can graduate on time at home, parents stop sending their children abroad out of desperation. This reduces demand for dollars and pounds, allowing more Naira to stay in the country. Savings increase.
That money, now retained domestically, doesn’t just sit idle. It gets used to start businesses, build homes, pay for local services, or fund other children’s education within Nigeria. In other words, it starts working for the Nigerian economy instead of elsewhere.
The impact is profound. Within the country, we now see more liquidity, more investment, and more employment opportunities.
Reversing the Brain Drain
In the past, families from neighbouring countries like Cameroon sent their children to Nigeria for higher education. In the United States, I have met many graduates from UNN and OAU who came from across the border. This trend has reversed in the past 20 years. We are now the ones sending students abroad to Ghana, Uganda, Togo, South Africa, and even offshore campuses of Western universities in Africa.
Stability in the academic calendar can change that. With a reliable academic calendar and improved quality, we can restore Nigeria’s reputation as an educational hub, attracting students (and their tuition fees) back into the country.
Training for Export the Right Way!
Nigeria already exports one of its most valuable resources: skilled professionals, particularly in healthcare. Our nurses and doctors are in high demand globally, and their remittances support families and businesses back home.
However, to sustain this pipeline, students must graduate on time. Delays disrupt career paths, migration plans, and family expectations. Academic stability ensures a steady flow of qualified professionals who can work here or abroad, sending money back home to fuel the local economy.
Let’s be clear: we’re not glorifying the “Japa” trend. We’re advocating for structured, intentional investment in education so Nigeria can become a respected exporter of human capital, much like India has with its tech professionals.
One Policy, Many Benefits
President Bola Ahmed Tinubu’s administration may not receive much recognition for this, but stabilising the academic calendar addresses more problems than it appears to. It (1) reduces capital flight, (2) eases pressure on the Naira, (3) boosts domestic investment, and (4) ensures a steady supply of graduates for both local and international employment.
This isn’t about politics. I am not writing to promote a campaign agenda. My analysis stems from my background in management and public administration, based on observable facts and economic reasoning.
Conclusion
In economics, we often say: If A leads to B, and B leads to C, then maintaining A will eventually produce C. In this case, stabilising university education in Nigeria by President Bola Ahmed Tinubu (A) results in less capital flight (B) and ultimately a stronger economy and currency (C).
We are only at the beginning of this journey; however, the signs are promising. If this trend continues, Nigeria could emerge with a stronger Naira, more jobs, and a better reputation, not just for its oil or entertainment, but for its people and its education. And that is a future worth investing in.
In closing, I want to reiterate: Leadership should be assessed not only on past grievances, but also on current intentions and future outcomes. Let us give President Bola Ahmed Tinubu and his team a fair chance to deliver on their promises while remaining vigilant and committed to constructive engagement.
They are not merely governing within the limits of available human and material resources; they are pushing boundaries, reinventing resilience, and optimising the process.
The often reviled, but tolerated, culture of low expectations does not define them. That's become history. What is evolving is more than conventional governance. This is a complete reset, heralding not just the remaking of a broken system, but a total replacement.
May God bless you, and may God bless Nigeria. 🇳🇬
July 04, 2025
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