The persistent foreign exchange crisis in Nigeria is reshaping migration trends, as more Nigerians seek alternative destinations beyond traditional choices like the United States, United Kingdom, and Canada.
With the naira’s depreciation and escalating relocation costs, countries such as Portugal, Finland, Hungary, and Sweden are emerging as preferred options due to their lower visa restrictions, cheaper cost of living, and accessible residency pathways.
Soaring Migration Costs Amid Naira Depreciation
The sharp decline of the naira, which saw its value plummet from N460/$1 in mid-2023 to over N1,500/$1 by March 2025, has significantly driven up the cost of visa applications, airfare, tuition fees, and general relocation expenses.
“Going abroad is quite discouraging now because of the financial implications,” said development economist Illias Aliyu. “Additionally, the disposition of the Trump administration towards foreigners in the US is something to worry about.”
Aliyu noted that with remote work opportunities expanding, some professionals are now reconsidering the necessity of relocating altogether.
Tighter Immigration Policies in Traditional Destinations
In addition to financial hurdles, stricter immigration policies in key destinations have further complicated migration plans for many Nigerians.
The UK government recently imposed restrictions on international students bringing dependents, except for those pursuing select postgraduate programs. This move has significantly affected Nigerian applicants, given their high volume of student visa applications.
According to available data, the UK Home Office earned over N68 billion from processing approximately 225,000 UK visa applications from Nigerians between June 2023 and June 2024.
Similarly, Canada has introduced tighter controls, reducing study permits for 2025, discontinuing the Student Direct Stream (SDS), and making language proficiency tests mandatory for post-study work visa applicants.
A consultant at Travel and Tours Limited, Maureen Chimaobi, observed that these policy changes have slowed down Nigerian student migration inquiries.
“In the past, we would receive numerous applications from Nigerian students looking to study abroad, but this year has seen a slowdown,” Chimaobi noted.
She also observed a decline in what she termed the “Japa Syndrome,” where students would apply to multiple foreign universities hoping for scholarships and admissions.
“The enthusiasm we saw in 2023 and 2024 is no longer the same. Many students are now reconsidering their options because of the rising costs,” she said.
Alternative Financing and Migration Strategies
With access to foreign exchange tightening, many prospective migrants are exploring alternative funding methods. These include:
Cooperative societies and peer-to-peer lending
Informal loans from family and friends
Government-backed scholarships
Work-study programs in countries with lower migration costs
Chidinma Onyewere, an employee at Access Bank, initially shelved her study-abroad plans due to high costs but is now reconsidering after receiving advice from a former colleague who successfully relocated.
“She told me to start applying to schools and get admission first, that everything else would fall into place,” Onyewere shared. “Most people who travel take loans and pay them off once they get there.”
A Lagos-based travel agent, who spoke on condition of anonymity, highlighted that some European countries offer easier migration pathways, particularly for those with only a secondary school certificate.
“These countries not only provide educational opportunities but also have frameworks that facilitate residency and eventual citizenship for international students, including Nigerians,” the agent explained.
The Shift in Nigeria’s Migration Outlook
As economic realities shift, migration patterns are evolving. While top-tier destinations remain desirable, many Nigerians are now adopting alternative routes, leveraging scholarships, and seeking affordable relocation options.
With financial pressures mounting, experts predict that the trend of exploring less conventional migration destinations will continue, reshaping Nigeria’s migration landscape in the years to come.
