OPay sets N1.2bn scholarship target, says N126m disbursed so far

OPay, a financial technology (fintech) company, says it has disbursed N126 million in scholarships to 20 tertiary institutions in Nigeria.

Elizabeth Wang, OPay’s executive director and chief commercial officer, said the organisation hopes to inject a total of N1.2 billion into higher education scholarships in 10 years.

Wang spoke at the ‘OPay CSR Empowering Futures 2025’ conference held recently in Lagos.

She said the initiative aligns with the company’s belief that the future belongs to the young people, who can only be empowered through education.

“The student is the future. Education is the future, “ the executive director said.

“That is why OPay would like to join the future and contribute to the future of Nigeria.”

Wang said 420 students have benefited from the programme across 20 higher institutions in Nigeria.

The executive director said the organisation has already fulfilled its first-year commitment and remains committed to sustaining the effort over the next nine years, with plans to expand its impact in the future.

According to the executive, OPay plans to expand its education initiative by building a cyber lab, beginning with the University of Calabar.

The chief commercial officer said the project aligns with the firm’s mission to drive financial inclusion through technology and empower students with practical digital skills.

“Our mission is to make financial services more inclusive through technology,” Wang said.

“By collaborating with schools, we can help students understand these technologies better so that when they graduate, they can contribute meaningfully to society.”

‘SCHOLARSHIP INITIATIVE IS A TRANSFORMATIVE CONTRIBUTION TO EDUCATION’

Adebayo Bamire, the vice-chancellor of the Obafemi Awolowo University (OAU), commended OPay for what he described as its “transformative contribution” to education through the scholarship initiative, noting that the programme has made a significant impact on both students and the institution.

He said the company has supported students financially, built structures, and provided scholarships that have inspired many to believe in their future.

The vice-chancellor also noted that the brand  supported the university’s award of excellence programmes with a N10 million grant, describing the gesture as “really commendable.”

“OPay is a representative of the philanthropist sort of organisations that support programs, particularly within the educational sector,” he said.

 “They are building up the nation because there lies the bulk of the youth that you may be talking about.”

Bamire encouraged the organisation to explore more areas of collaboration with universities.

“There are so many things within the university setting that OPay can actually come in,” he said.

“They can help us build up laboratories, support the incubation centres, and ensure greater connectivity within the university space so that students will have opportunities to link up at any point in time.”

One of the beneficiaries of the scholarship, Adebayo Moses, a 400-level student of pharmacy at the University of Ibadan, expressed gratitude to OPay, saying the initiative has transformed his academic journey.

“…before I received the OPay scholarship in 300 level, my cumulative grade point average (CGPA) dropped because of the time-consuming nature of my extra work,” the student said.

“But after receiving the scholarship, my CGPA has increased. I am currently on a very strong first-class CGPA.

“The second one, I hope to use it to get a new laptop because I am currently taking a training on machine learning.”

Some of the 20 higher institutions that have received the funding include the University of Ibadan, the University of Nigeria, Nsukka, the Obafemi Awolowo University, the University of Abuja, Ahmadu Bello University, Lagos State University, and the Federal University of Technology, Minna.

Others are the University of Ilorin, Kwara State Polytechnic, Benue State University, University of Calabar, Olabisi Onabanjo University, University of Uyo, Federal Polytechnic Nekede, Ambrose Ali University, Federal University of Health Sciences, Azare, Bauchi; Nasarawa State University, University of Maiduguri, University of Jos, and Bayero University.