Effective September 1, 2026, international students applying for Canadian study permits—including Nigerian applicants—must show increased living expense funds of at least C$23,448 for a single applicant. The new requirement represents a significant increase from previous thresholds and is part of Canada’s efforts to ensure that international students have adequate financial resources to support themselves during their studies.
For Nigerian students, the increased requirement adds to the already significant cost of studying abroad. The new threshold will require families to demonstrate even greater financial capacity, potentially limiting access for students from lower-income backgrounds. The Canadian government has defended the increase as necessary to protect students from financial hardship.
The winners: the Canadian government, which is ensuring students have adequate resources; and financially secure students, who can meet the new requirements. The losers: Nigerian students from lower-income backgrounds, who may be priced out of Canadian education; and the Nigerian government, which must address the brain drain.
Bottom Line: Canada has raised the financial bar for Nigerian students. Studying abroad is becoming more expensive. The question is whether Nigerian students will find alternative destinations or be priced out of international education.