Financial analyst Kalu Aja has criticised the Bola Tinubu administration for spending more on estacode allowances for COP30 delegates than the annual amount budgeted for student loans.
Aja issued the criticism in a post on his X account, where he argued that the cost of sending hundreds of officials to the climate summit exceeds what students receive nationwide.
He stated that “If you calculate the cash in $ paid out as estacode to attend a single COP in Brazil, it will surpass the annual student loan disbursement.”
He said young people have been convinced that they need federal loans to attend a university owned by the same federal government.
He added that “Somehow, they have convinced the youth that they need federal loans to attend a federal university owned by the federal government.”
He noted that the policy fails to acknowledge how the United States, from which Nigeria adopted the loan model, offers grants that ease the financial burden on students.
He reminded the public that “They didn’t tell the youth that in America, where they copied student loans from, they also have grants (dash) for education, including Pell Grants and FSEOG.”
His post triggered a wave of angry responses from social media users who accused the government of misplacing its priorities.
A user known as Rule of Law Nigeria wrote that the richest countries send no delegates to such meetings, while “Nigeria, one of the worst places to live on God’s green earth, sends the third highest number of delegates.”
Another user, World President, criticised Nigeria’s lack of environmental commitment, saying the country has poor waste management practices.
A commenter identified as xander Z dismissed the student loan policy as unserious and questioned the relevance of providing N20,000 monthly to undergraduates in 2025.
Chioma Obinagwam simply remarked that Aja “has a point” in his argument.
Frankinsense wrote that the system will not improve until “something drastic happens”.
A user named Igbeti called for constructive criticism but acknowledged that many families still cannot afford tuition even with loans.
Another user, betstat, accused Aja of focusing only on estacode figures.
A commenter named Olamide described the Tinubu administration as a “government of waste”.
The reactions come amid widespread outrage over the government’s decision to send 749 delegates to COP30 in Brazil at a time of worsening debt, rising inflation and growing public distrust.
Many Nigerians continue to question why the government prioritises expensive foreign trips while students struggle with fees and limited access to financial support.
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