Canada Raises Financial Barriers for Nigerian Tech Workers

The Recent changes in rules put Canadian dreams further beyond the  reach of skilled Nigerian experts as the path to Canada just became more expensive.  The Immigration, Refugees and Citizenship Canada (IRCC) announced increases to the lowest financial qualifications for immigrants.

Starting July 2025, single applicants under Canada’s Express Entry system must now show they have at least over  ₦17 million which is over CAD  23 million settlement funds,  an increase from previous criteria. For families of two, it increased to about ₦21.2 million which is over CAD $19,001 

These changes are  hard in Nigeria especially because the average salary for tech experts is from ₦2.4 million to ₦12 million, based  on the level of experience and skill. 

These  new rules  means that  many skilled workers would need to save for years just to meet Canada’s basic minimum income level.

The increases come as part of the   IRCC’s yearly  assessment  of relief funds criteria which are based on 50% of Canada’s minimum income limit. Reports say the changes ensure new arrivals  have enough funds to set themselves up without depending on  assistance.

Nigeria has been losing tech expertise to developed countries in what is  called “japa syndrome” a Yoruba term meaning “to flee”. Canada has been a popular destination and was Nigeria’s fourth-largest immigration location in 2022, welcoming 22,085 Nigerian immigrants.

The country’s tech space has been growing, with Lagos rising as a major fintech centre. However, economic instabilities such as falling exchange rate and inflation, have made it  difficult for workers to gather the required currency needed to meet Canada’s demands. It is a tough time for Nigerian tech experts.

The financial requirements  are only one aspect of Canada’s new immigration policy. Along with proving the funds have been reserved for at least six months and that they are easily accessible, applicants must also present official bank letters printed on bank letterheads.

Those already in Canada’s immigration pool have until July 28, 2025, to update their proof of funds or risk losing their visa.

The tighter regulations match Canada’s aim to lower its immigration goals. Following its 2024 target of 485,000 permanent residents, Canada plans to attain 395,000 in 2025 before further declining to 365,000 by 2027.

Similar challenges also apply to Nigerians seeking study visas in Canada. The schooling route will become more expensive starting in September 2025 when overseas students must have at least CAD 22,895 which is over # 22 million  in living expenses in addition to tuition and travel fees.

Now more than ever, financial stability is important for Nigerian tech experts who are still trying to migrate. Experts in immigration advice begin saving early, and looking at substitute schemes that may have other factors.

Some are searching for other routes through provincial nominee programs for skilled workers. Despite the difficulties associated with these routes, some are considering temporary work permits as a first step toward permanent immigration.

With the possibility of retaining talent locally and  limiting international migration  to those with strong financial means, these measures will  have an ongoing effect on Nigeria’s tech sector for years to come.