Olawunmi Ajibike
The Federal University of Agriculture, Abeokuta (FUNAAB) and OPay Digital Services Limited have signed a ₦60 million Memorandum of Understanding (MoU) to provide scholarships, innovation opportunities and career development support for students.
The 10-year agreement, signed on September 24, 2026, will see 20 FUNAAB students receive ₦300,000 annual scholarships, subject to satisfactory academic performance.
Speaking at the signing ceremony, OPay’s Corporate Social Responsibility Manager, Mr. Itoro Udo, said FUNAAB was the 26th tertiary institution to benefit from the initiative, which the company plans to extend to at least 41 institutions nationwide.
Udo said the programme was designed to support academically promising students facing financial challenges while equipping young Nigerians with relevant skills for the modern workforce.
He explained that the initiative had been expanded to include an Innovation Challenge featuring webinars, boot camps and practical engagements with professionals in the fintech and technology sectors.
According to him, OPay’s collaboration with organisations such as Google and the Federal Government’s 3 Million Technical Talent (3MTT) programme would also help create pathways to internships and employment for outstanding participants.
He disclosed that FUNAAB would have a dedicated quota in subsequent application cycles, with the University responsible for screening and selecting 20 beneficiaries. Five of the selected students would then represent FUNAAB in the Innovation Challenge.
Responding, FUNAAB Vice-Chancellor, Prof. Babatunde Kehinde, commended OPay for extending the initiative to the University, describing it as an important intervention for students facing financial difficulties.
Kehinde noted that although federal universities do not charge tuition, students still incur expenses for services such as medical and ICT facilities, which could place financial pressure on families.
He said FUNAAB, with a student population of about 25,000 expected to rise to 27,000, had students from diverse economic backgrounds who could benefit significantly from the initiative.
The Vice-Chancellor assured OPay that the selection process would be transparent and merit-based, adding that the University would deploy its Centre for Entrepreneurial Studies (CENTS) and Career Services and Linkages Unit (CSLU) to support the programme.
He expressed confidence that the partnership would not only provide financial relief but also expose students to innovation, entrepreneurship, skills development and employment opportunities.
The ceremony was attended by the Deputy Vice-Chancellor, Academic, Prof. Olusegun Idowu; Principal Assistant Registrar, Vice-Chancellor’s Office, Mr. Adekunle Adebiyi; University Legal Officer, Mrs. Olanrewaju Tanimowo; OPay’s CSR Officer, Mr. Babatunde Akinloluwa, among others.