The Minister of Education, Dr Tunji Alausa, said the decision was part of a broader review of the government's foreign scholarship and bilateral education arrangements aimed at eliminating unnecessary expenditure and redirecting resources towards strengthening Nigerian universities, polytechnics and colleges of education.
In a panel discussion on Africa’s infrastructure financing challenges, South African President Cyril Ramaphosa argued that the continent should not assume it needs foreign capital to fund major projects. Aliko Dangote offered a different perspective, arguing that the availability of money in African banks does not necessarily mean businesses can afford to use it.