Article by Victoria Goldiee: “Nigeria’s education system has declined due to inadequate funding and facilities, low admission rates, and a nationwide shortage of qualified teachers. Consequently, receiving a quality education has become a privilege only accessible to families with financial means. According to research by the Nigeria Education and Training Services Industry, 49 percent of Nigeria’s youth enter into trade apprenticeships or expatriate to pursue a better education. In fact, Nigeria has the highest percentage of its students overseas of any African nation.
In February 2016, social entrepreneur Bola Lawal turned to crowdfunding to make educational opportunities accessible to Nigerians. He founded ScholarX as the vehicle to realize this mission through taking advantage of the largely untapped market of unclaimed scholarships, educational grants, and philanthropic donations for African students. The X in ScholarX represents the missing value and recognition that Nigerian youth deserve for their dedication to academic achievement.
“The idea for ScholarX came from the conversation with my friends on our shared experiences,” Lawal recounts, “because I also had difficulty paying for school like millions of Nigerians.” He adds that he was “even suspended from school because” of his inability to pay the tuition fee.
Like Lawal, more than 100,000 Nigerian students overseas rely on scholarships, many of which are backed either by oil and gas companies that aim to recruit students into the industry or by federal government grants for local students. But in recent years, these scholarships have been scaled back or scrapped altogether because of the ongoing economic crisis and recession. The crash of the foreign exchange rate of Nigeria’s currency, the naira, has further threatened the prospects of Nigeria’s overseas students, leaving many unable to pay tuition…(More)”