Opay disburses N126m scholarships to 20 tertiary institutions, targets N1.2bn in 10 years
OPay, one of Nigeria’s leading financial technology companies, has announced the disbursement of N126 million in scholarships to students across 20 tertiary institutions as part of its N1.2 billion 10-year scholarship initiative.
The company made this known at the Empowering Futures Conference 2025 held in Lagos on Friday.
The event, organised by OPay, brought together stakeholders from academia, the private sector, and the media to review the company’s achievements in the past year and explore how deeper collaboration can enhance social investments in Nigeria.
The Memorandum of Understanding (MoU) signed with 20 tertiary institutions marks the formal rollout of the OPay Empowering Futures initiative — a corporate social responsibility (CSR) programme aimed at supporting academically gifted but financially constrained students.
Representing OPay at the event, Elizabeth Wang, the company’s chief operating officer, reaffirmed the organisation’s commitment to education and youth empowerment.
“Since our establishment in Nigeria in 2018, our mission has been to make financial services more inclusive through technology. Beyond this, we believe education is the foundation of every society, and students represent the future,” she said.
“That’s why OPay is committed to sponsoring 20 students of this university every year for the next 10 years to help them pursue their dreams more easily.”
Wang also revealed that the company plans to set up Cyberlabs and provide graduate employment opportunities within its workforce of more than 5,000 employees as part of a broader effort to nurture talent and strengthen youth development.
According to the company, the N1.2 billion OPay 10-Year Scholarship Programme is designed to invest N120 million annually in supporting 400 outstanding students across 20 Nigerian tertiary institutions.
“In 2024, we embarked on the decade-long journey with purpose: expanding access to education, unlocking opportunities, and empowering the next generation of leaders,” OPay stated.
“Today, we proudly mark the completion of our first year. A year filled with inspiring stories of resilience, excellence, and renewed hope.”
In its first year, the company said N126 million was disbursed to 420 students nationwide, with each recipient receiving N300,000 in educational support.
OPay said the scholarship programme is part of its long-term vision to drive educational advancement and contribute meaningfully to Nigeria’s socio-economic development through consistent and impactful CSR initiatives.
The 20 beneficiary institutions
The 20 universities and polytechnics benefiting from the OPay 10-Year Scholarship Programme are:
Ahmadu Bello University, Zaria, Kaduna State; University of Ibadan, Oyo State; Obafemi Awolowo University, Osun State; University of Ilorin, Kwara State; Kwara State Polytechnic; Federal University of Technology, Minna, Niger State; Benue State University, Makurdi, Benue State; and University of Calabar, Cross River State.
Others are Olabisi Onabanjo University, Ago-Iwoye, Ogun State; University of Abuja; University of Oyo; Federal Polytechnic, Nekede, Imo State; Ambrose Alli University, Ekpoma, Edo State; Federal University of Health Sciences, Azare, Bauchi State; Nasarawa State University; University of Maiduguri; University of Jos; Bayero University, Kano; University of Nigeria, Nsukka; and Lagos State University.
Appreciating the gesture, the vice-chancellor of the University of Nigeria, Nsukka (UNN), Professor Simon Uchenna Ortuanya, lauded OPay’s commitment to advancing education in Nigeria.
“This scholarship project is not only good news for UNN but for Nigeria as a whole. It is a laudable step—one that truly deserves admiration,” he said.
“As a university, we are proud of OPay’s competitiveness in the financial sector and even more proud of its commitment to supporting education. We assure you of our full cooperation to ensure that the goals of this partnership are fully realised. Today marks the beginning of greater things to come between OPay and the University of Nigeria.”
Similarly, the vice-chancellor of Olabisi Onabanjo University, Professor Ayodeji Agboola, expressed appreciation on behalf of his institution, describing the scholarship as a timely intervention for students facing financial challenges.
“We have had several students take gap years in order to come up with funds to continue their education. With this scholarship initiative, some will be able to continue their education without any hassle,” he said.
“OPay’s investment in this institution is not misplaced as Olabisi Onabanjo University has produced several notable and influential persons across various industries in Nigeria. Thank you, OPay.”
You must be logged in to post a comment.