OPay Partners OOU to Back Indigent Students With Scholarships

OPay is stepping up its commitment to education in Nigeria. The fintech company has signed a Memorandum of Understanding with Olabisi Onabanjo University (OOU), Ago Iwoye, to fund annual scholarships for 20 undergraduates who face financial difficulties. Each recipient will receive ₦300,000, aimed at easing the burden of school fees and helping them stay on track academically.

The agreement was signed on Friday at OOU’s Senate building. Speaking at the event, Justin Zhang, OPay’s Chief Public Affairs Officer, said the company’s decision was shaped by years of living and working in Nigeria. “Some of these young ones, after spending a year at the university, may have to go and work for one or two years to get some money to pay for their school fees,” he noted. “If they have financial support, they could finish schooling by 23 or 24 and do so many more things for themselves and society.”

Zhang explained that the scholarship initiative first began in 2023 with pilot support for students at the University of Ibadan and Ahmadu Bello University. Following its success, the programme is expanding to 18 more universities this year, with a target of reaching 20 universities annually, offering 20 slots per institution. The 10-year initiative is expected to cost OPay ₦120 million per year.

Beyond School Fees: OPay’s Broader Education Drive

The partnership with OOU is part of a broader plan by OPay to uplift underserved communities. Alongside scholarships, the fintech has also donated books and school supplies to several secondary schools. Plans are underway to support 100 women with vocational training and start-up tools to help them establish trades.

Professor Ayodeji Agboola, Vice Chancellor of OOU, praised the initiative, calling it timely and essential. “We want our students to be able to pursue their education; we want them to be employable and also be employers of labour as well,” he said.

Agboola urged OPay to go even further by supporting the university’s entrepreneurial and research programmes. He said OOU’s tech hub showcases “marvellous innovations by our students,” but lack of funding has limited their growth. He encouraged the fintech company to consider sponsoring research fairs and student boot camps as part of future collaboration.

Muizz Olatunji, President of the Students’ Union, also expressed gratitude. He highlighted the daily struggles of students to pay tuition and called the scholarship “a major relief.” He echoed the Vice Chancellor’s call for more investment in entrepreneurship, describing it as “the way to achieve economic growth and prosperity for our dear nation.”