How high inflation, low income stall growth for Nigerian edtech startups

When Nigerian edtech startup Edukoya started operations in May 2021, its founder Honey Ogundeyi aimed to revolutionise online learning for K-12 students in Africa. That same year, the company secured a $3.5 million funding to expand its business and enhance its technology.  

But funding was not enough to sustain the business.  In February, 2025, the startup shut down core operations citing…