Scholarship: Minister Requests Additional Funding Over Forex Fluctuations
The Federal Ministry of Education has revealed that recent exchange rate fluctuations have led to shortfalls in fund disbursement for Nigerian students studying abroad under the Bilateral Education Agreement (BEA) Scholarship Programme.
To address this, the Minister of Education has formally requested additional funding to cover the differentials and ensure the full remittance of entitlements to all affected students.
The Ministry had been paying supplementary allowances to Nigerian scholars up to December 2024, but the exchange rate fluctuations have disrupted the funding.
A statement by the ministry’s Director of Press and Public Relations, Boriowo Folasade on Friday, noted that the minister’s request for additional funding aims to bridge the gap and ensure that students receive their full entitlements.
Despite the challenges, the Ministry has assured stakeholders of its commitment to supporting Nigerian scholars abroad.
The statement further stated that the provisions for the scholarship programme have been included in the Federal Ministry of Education’s Capital Budget, and disbursement of funds is expected to commence once implementation begins.
The Ministry appreciated the patience and understanding of students and their families, reaffirming its dedication to the continued success of the Bilateral Education Agreement Programme.
The BEA Programme, a product of strong diplomatic relations and mutual cooperation, enables Nigerian students to pursue academic studies in partner countries such as China, Russia, Algeria, Hungary, Morocco, Egypt, and Serbia.
Through the agreements, host countries provide beneficiaries with free tuition, accommodation, and monthly stipends, while the Federal Government of Nigeria complements this support with take-off grants, monthly supplementation throughout the study period and return passage upon successful completion of their programmes.
Scholarship: Minister Requests Additional Funding Over Forex Fluctuations is first published on The Whistler Newspaper
