The Nigeria Higher Education Foundation has announced its 2023 Essay competition for Nigerian university students. The aim of this competition is to provide a unique platform that supports critical thinking amongst university students on topical socio-economic issues that affects Nigeria’s sustainable growth and development. The 2023 competition focuses on “The CBN Naira redesign policy and its effect on the Nigerian economy & the consequence of increased brain drain on the economy”.

Applicants are to choose one of the two questions below to write on:

• Leading to the recent currency redesign policy, the Central Bank of Nigeria reported that about 84.71% of the N3.23 trillion currency in circulation was outside the banking system. A situation described to be a risk to its currency management responsibility.
  • Using relevant examples, critically analyze the pros & cons of the monetary policy implementation and provide recommendations to the CBN for future policy implementation based on the consequent challenges experienced nationwide.
• Article 13, section 2 of the Universal Declaration of Human Rights states, “Everyone has the right to leave any country, including his own, and to return to his country”.
  • This statement agrees with the Nigerian constitution on the Right to Freedom of Movement. However, a significant increase in brain drain can be classified as an anomaly for any economy. Critically analyze the factors causing human capital flight in Nigeria and recommend relevant solutions to safeguard the country’s economic growth and development.

Application Deadline: April 7, 2023

Type: Undergraduate

Value of Award:

• The Grand Prize winner will be awarded N100,000, a new laptop, 1 online certificate course, a 1-year internet subscription, and 1 year of university tuition.
• The First Runner-up will be awarded N75,000, a 1-year internet subscription, and 1 year of university tuition.
• The Second Runner-up will be awarded N50,000, a 1-year internet subscription, and 1 year of university tuition.

For application guidelines, visit https://myschoolscholarships.org/nhef-essay-competition-for-nigerian-students/26348/