The University of Calabar in Cross River State has become the latest school to benefit from OPay’s N1.2 billion scholarship programme aimed at helping Nigerian students. The financial technology company, OPay, announced that it signed a 10-year Memorandum of Understanding (MoU) with the university to support students through its scholarship scheme.
This makes the University of Calabar the eighth institution in Nigeria to benefit from the scholarship initiative. The signing event took place at the university campus and was attended by top officials of the school, representatives from OPay, and some student leaders.
The Vice-Chancellor of the University of Calabar, Professor Florence Obi, welcomed the scholarship scheme and praised OPay for its effort to support young Nigerians in their education. She said the initiative would make a big difference in the lives of many students.
“OPay’s generosity is deeply appreciated. This scholarship programme is a very welcome initiative. In addition to other support schemes already in place, this will help many of our students. It will also inspire and encourage them to perform better in their academic work,” she said.
OPay’s Head of Partnerships, Mr. IK Odiase, who spoke on behalf of the company during the event, said that education plays a vital role in the development of any nation. He stressed that the company is committed to supporting Nigerian students so they can reach their full potential.
“We are honoured to partner with the University of Calabar on this impactful journey over the next 10 years. Education is the cornerstone of nation-building, and we remain committed to ensuring that students across Nigeria have the support they need to succeed,” Odiase said.
According to OPay, the scholarship scheme goes beyond just paying school fees. It is also meant to give hope to many families and communities by removing financial burdens that often stop students from completing their education. The company believes that by giving more young Nigerians access to education, it is helping to build a better future for the country.
“As OPay expands this programme to more campuses, it reinforces its conviction that true change begins with access to knowledge. This scholarship scheme stands as clear proof of OPay’s mission to nurture talent and shape a more inclusive and promising future for young Nigerians,” OPay said in a statement released after the event.
OPay started operations in Nigeria in 2018 and has since become one of the leading fintech companies in the country. It offers services such as money transfers, bill payments, airtime and data purchases, card services, and payments for merchants. The company is licensed by the Central Bank of Nigeria and its customers are insured by the Nigeria Deposit Insurance Corporation (NDIC), just like commercial banks.
The OPay scholarship programme was launched to help brilliant but financially disadvantaged students across Nigeria. With this latest partnership, the University of Calabar joins the list of Nigerian universities already benefiting from this long-term project.
Students at the university who meet the scholarship criteria will receive financial support for their tuition, and possibly other educational expenses, depending on the terms agreed in the MoU. Although the exact number of students to benefit has not been disclosed, the company confirmed that more universities will be added to the scheme in the coming years.
Nigerian universities have continued to face challenges such as poor funding, strikes, and limited access to scholarships for needy students. Initiatives like OPay’s scholarship programme are helping to close the gap by providing alternative sources of support to students.
This move by OPay has also been seen as part of a wider effort by private companies in the tech and finance sectors to invest more in education and youth development. Experts believe that such investments could help improve the quality of graduates and build a stronger economy in the long term.
