The University of Ilorin has signed a Memorandum of Understanding (MoU) worth N60 million with financial technology company, Opay, to provide scholarships for indigent students of the institution.
The agreement will see Opay sponsor 20 students annually with N300,000 each for a period of ten years. The scholarship programme, which began in 2024, forms part of Opay’s corporate social responsibility (CSR) initiative aimed at empowering smart, ambitious, and financially disadvantaged students across Nigerian universities.
Speaking during the event, the Vice Chancellor of UNILORIN, Professor Wahab Olasupo Egbewole, SAN, expressed profound appreciation to Opay for selecting the University as a strategic partner. He described the initiative as a timely intervention that aligns with the University’s mission to expand access to quality education and create an enabling environment for academic excellence.
Professor Egbewole noted that the University would continue to nurture the partnership and involve Opay in some of its key projects, including the forthcoming 50th anniversary celebration and the U-Inspire programme, which connects students to industries for practical exposure and certification.
He further revealed plans to establish an Innovation Hub on campus that will include a science lab and tech park, enabling students to gain hands-on experience and bridge the gap between theoretical knowledge and industry practice.
On the selection process for beneficiaries, the Vice Chancellor assured stakeholders of transparency, explaining that the University already operates a long-standing system for identifying top-performing students across departments and faculties.
Also speaking at the ceremony, Opay’s Chief Public Affairs Officer, Mr. Justin Zhang, explained that the scholarship scheme was born out of the company’s desire to support young Nigerians and invest in the future of education. He stated that Opay’s decision to enter a decade-long partnership with UNILORIN demonstrates the company’s confidence in the University’s values and operational integrity.
Mr. Zhang added that Opay may consider an upward review of the scholarship value in the future, in line with changing economic conditions, to ensure that students continue to receive impactful support.
The signing ceremony was attended by key officials from both institutions, including the Registrar of UNILORIN, Mr. Mansur Adeleke Alfanla; Acting Director of the Legal Unit, Mrs. Faridah Funmilayo Sheriff; and Opay’s CSR Project Manager, Mr. Itoro Udo.
With this development, Opay becomes the 20th corporate partner collaborating with the University of Ilorin to create opportunities and improve student welfare.
