OPay, a leading Nigerian financial services provider, has launched a significant 10-year scholarship initiative in partnership with the University of Ibadan (UI) to empower Nigerian students academically and financially.
This new scholarship program, which was formalized through a Memorandum of Understanding (MOU) with UI, aligns with OPay’s commitment to social responsibility and educational investment in Nigeria. The initiative aims to grant ₦300,000 annually to 20 top-performing students at UI, selected based on their academic achievements, innovative mindsets, and commitment to community service.
Over the decade-long period, OPay plans to invest ₦1.2 billion into this scholarship initiative, directing an annual ₦120 million to support 400 students across various Nigerian universities.
The scholarship will initially focus on the University of Ibadan, with plans to expand to other prestigious institutions such as Ahmadu Bello University and Nnamdi Azikiwe University. By broadening the program, OPay hopes to support students from diverse educational backgrounds, helping them achieve their academic and career aspirations.
During the launch event at UI, OPay’s Chief Technology Officer and Chief Operating Officer, Dotun Adekunle, emphasized the company’s dedication to fostering the next generation of leaders.
He stated, “OPay is honored to enter a long-term partnership with the University of Ibadan to support Nigeria’s future leaders over the next 10 years. By providing sustained financial support, we aim to help these students dedicate themselves to their studies and achieve their full potential.” This sentiment reflects OPay’s broader mission to contribute to the social and economic development of Nigeria by investing in education, a key area for national progress.
UI’s Vice-Chancellor, Professor Kayode Adebowale, expressed his gratitude to OPay for initiating this impactful program. He noted that the scholarship would alleviate financial pressures on students, allowing them to concentrate more on their academic performance. He added, “This award not only celebrates the achievements of these 20 undergraduate students but also reflects OPay’s commitment to empowering the next generation of leaders. Your support underscores the value of investing in education and inspiring excellence”
Several scholarship recipients voiced their appreciation for the financial relief this initiative provides, allowing them to fully focus on their education without the constant worry of sourcing funds for tuition and other academic expenses. Tijani Rose, a second-year Computer Science student at UI, described the scholarship as a “very welcome opportunity,” noting that it will enable her to direct more energy toward her grades and studies rather than worrying about tuition fees.
This partnership between OPay and UI underscores the increasing role of private corporations in enhancing educational access and supporting youth development in Nigeria. With this program, OPay joins other organizations committed to CSR initiatives that build capacity in critical sectors like education, preparing young Nigerians for future leadership roles and contributing to broader social transformation
