OPay Digital Services Limited, popularly known as OPay, has signed a Memorandum of Understanding with Olabisi Onabanjo University, Ago Iwoye, Ogun State, to support 20 indigent undergraduates with annual scholarships of N300,000 each.
During the MoU signing, held at the university’s Senate building on Friday, OPay’s Chief Public Affairs Officer, Justin Zhang, explained that the initiative is aimed at helping young Nigerians achieve their educational goals.
Zhang, who has lived in Nigeria for 13 years, shared his observations about how some students struggle financially to complete their education. He noted that some students are forced to pause their studies to work and save money for school fees, which delays their graduation and limits their opportunities.
He said the fintech company, which began operations in Nigeria in 2018, decided to give back to society after becoming profitable. The scholarship initiative started last year with the University of Ibadan representing the southern region and Ahmadu Bello University, Zaria, for the northern region.
According to Zhang, “We have decided to extend the programme to 18 more universities this year, making it 20 universities in total. Each university will have 20 scholarship slots, and each student will receive N300,000 per year. That means we will be spending N120 million annually on this project, and the first phase is planned to last for 10 years.”
Zhang also mentioned that the company has donated books, bags, and writing materials to secondary schools and plans to empower 100 women with vocational training and startup support.
He emphasized OPay’s commitment to partnering with relevant organizations to help Nigerian youth thrive and build a strong future.
The Vice Chancellor of the university, Professor Ayodeji Agboola, praised OPay for supporting education and noted that the gesture aligns with the university’s goals of ensuring students are educated, employable, and capable of becoming employers.
Agboola encouraged OPay to also support the university’s entrepreneurial efforts. He explained that entrepreneurship involves not only vocational training but also integrating entrepreneurial thinking into academic programs. He pointed out that while students have developed innovative ideas at the university’s tech hub, many lack the financial resources to scale their projects. He suggested that OPay consider partnering with the university in organizing research fairs and innovation boot camps.
The Students’ Union leader, Muizz Olatunji, also thanked OPay for the support, stating that many students struggle to pay their school fees and that the student body often steps in to assist.
He added, “This support from OPay will ease the burden for some of our students. We also hope OPay can support our entrepreneurial initiatives, as that is vital for economic growth and prosperity.”
