OPay Launches ₦1.2 Billion Scholarship Fund for Nigerian University Students
In a major boost to Nigeria’s education and innovation ecosystem, OPay, one of the country’s leading fintech companies, has launched a ₦1.2 billion scholarship fund aimed at empowering university students across Nigeria over the next 10 years.
The initiative, unveiled at the Empowering Futures Conference 2025 held at the Marriott Hotel, Ikeja, marks one of the largest long-term educational commitments by a fintech firm in Africa.
A Decade-Long Commitment to Educational Equity
First announced in 2024, the OPay scholarship programme will provide annual tuition funding for outstanding students in Nigerian tertiary institutions, ensuring they can pursue their academic dreams without financial constraints.
The launch event drew more than 500 educators, policymakers, students, and industry leaders, underscoring the importance of private-sector investment in education and youth development.
“Our vision as a company is to become the most respected and popular company that actively creates social values,”
— Elizabeth Wang, Executive Director, OPay Nigeria Board & Chief Commercial Officer
Wang emphasised that corporate social responsibility (CSR) is at the heart of OPay’s mission.
“Education is the future of society, and OPay would like to contribute to that future. That’s why we came up with this 10-year scholarship.”
Transparent and Merit-Based Selection Process
OPay has partnered with 20 Nigerian universities, including Ahmadu Bello University, University of Calabar, and University of Lagos, to ensure fair selection and representation across regions and socio-economic backgrounds.
Each participating institution conducts initial screenings based on academic excellence and financial need, while OPay’s internal review team verifies applications to uphold equity and authenticity.
“We want to support students who are truly talented and in need of financial aid to continue pursuing their dreams,” Wang said.
To guarantee transparency, funds are disbursed directly to students’ bank accounts, bypassing institutional intermediaries and reducing administrative bottlenecks.
In its first year, the programme has already benefited 420 students, with a total disbursement of ₦123 million.
Beyond Funding: Skills and Technology Empowerment
In addition to scholarships, OPay is integrating capacity-building initiatives into the programme.
A standout project under this initiative is the Cyber Lab Upgrade at the University of Calabar, inspired by a direct appeal from the university’s Vice-Chancellor during MOU negotiations.
OPay has pledged to renovate and equip the lab with advanced cybersecurity and financial technology tools, positioning it as a training hub for digital skills.
“Our mission is to make financial services more inclusive through technology,” Wang noted.
“We’re already leveraging technology to reshape financial services, and now we’re extending that expertise to empower the next generation.”
Fostering a Future of Innovation and Inclusion
The OPay Scholarship Programme not only bridges financial gaps but also reflects the company’s vision to nurture a technologically empowered generation capable of driving Nigeria’s socio-economic growth.
By linking education, technology, and financial inclusion, OPay is setting a new benchmark for corporate responsibility and youth development in Africa.
