Nigerian academics are not immune from the effects of macroenomic policies of the country. We live and work in this country, hence, there is the direct and indirect effect of any economic policy on us. Considering the role of education in the economic development of any country, pertinent issues affecting the efficiency should not be overlooked. Let me highlight the impact of three economic factors on academics.
GDP
How does the national GDP affect academics? The perception of Nigerian researchers internationally is tied to the wealth of the country. Foreigners see Nigerian academics as being rich based on our oil income. However, this is not the reality on ground. It is difficult to explain that we still embark on industrial actions to get the attention of the national government. The size of our GDP, after the last rebasing, disqualified us from many international initiatives. Currently, our GDP places us in Group B , according to the World Bank. Thus, we are only eligible for 50% article processing charge waiver. The remaining 50% is elusive to many researchers with many resorting to taking loans. Some conferences and organizations such as TWAS also use this to award scholarships and funding.
Inflation
Inflation does not discriminate. Apart from the impact of rising inflation academics face in their daily lives, there is also the effect on our professional lives. The cost of reagents, laboratory materials, and books are rising. Considering that most of these are usually obtained from personal funds, it puts further strain on our finances. The rising inflation constantly pitches us against funders. How do you explain that the cost of reagents have increased from what you budgeted a few months ago?
Exchange rate
Nigerian academics have international interactions regularly. We travel for conferences, attend workshops, and even organize international conferences here in Nigeria. International conferences are not expensive, it is our exchange rate that makes it prohibitive for us. Registration fee of $250, which will be paid by most international institutions, is equivalent to the one month salary of an Assistant Lecturer in the University (at an exchange rate of $1=N500). How many conferences can such a young researcher attend in three years? We buy books too. The exchange rate makes buying academic books a luxury we cannot afford. Even our libraries are affected too. Academics are members of international organizations where membership fees are paid. Our exchange rate is driving the cost of membership in these organizations are higher.
Way forward
The government at all stages should stop paying lip service to the education sector. Macroeconomic policies have a ripple effect on the educational sector, as it does to other sectors of the economy. Inflation is driving the cost of education at all levels beyond the reach of a largely poor population. The rising exchange rate is not the only problem but getting it also a problem. Government needs to stop the hide and seek game, and come to the table with the academic community.
