FUNAAB, OPay Sign ₦60m MoU to Support Students with Scholarships, Innovation Opportunities

The Federal University of Agriculture, Abeokuta (FUNAAB) and OPay Digital Services Limited have signed a ₦60 million Memorandum of Understanding (MoU) to support students through scholarships, innovation challenges, capacity building and talent development opportunities.

The agreement, signed on September 24, 2026, is designed to ease financial pressures on students while equipping them with skills and opportunities that can prepare them for the world of work.

Under the partnership, 20 FUNAAB students will receive ₦300,000 each annually, subject to meeting the academic requirements of the scholarship scheme.

OPay’s Corporate Social Responsibility (CSR) Manager, Mr. Itoro Udo, said FUNAAB was the 26th institution to join the initiative, which OPay plans to expand to at least 41 tertiary institutions across Nigeria.

He explained that the MoU would run for 10 years, while beneficiaries would be required to maintain strong academic performance to remain eligible for continued support.

Udo said the scholarship scheme was established to support academically promising students facing financial challenges, noting that OPay initially introduced the initiative in other institutions before expanding it nationwide.

He stressed that receiving the scholarship in one academic year would not automatically guarantee renewal, as beneficiaries would be expected to demonstrate continued commitment to their studies and qualify for subsequent support through their academic performance.

Beyond the scholarship scheme, Udo disclosed that OPay had expanded the initiative into a broader Innovation Challenge aimed at bridging knowledge and employability gaps among young people.

According to him, the programme includes webinars, boot camps and practical engagements with professionals in the fintech and technology sectors.

These activities are designed to help students understand the skills required by employers and interact with practitioners involved in the development of OPay and related technologies.

Udo further disclosed that OPay had partnered with Google and other technology stakeholders, as well as the Federal Government’s 3 Million Technical Talent (3MTT) programme, to develop a talent pipeline.

Through assessments and training, outstanding participants are identified for potential internship and job-placement opportunities, with the initiative designed to extend beyond training and create pathways into employment and professional development.

He stated that FUNAAB would have a dedicated institutional quota in subsequent application cycles.

According to him, the University would receive applications for verification and select the best 20 scholarship beneficiaries. From these beneficiaries, five students would subsequently be selected to represent FUNAAB in the Innovation Challenge and compete with students selected from other participating institutions.

Udo emphasised that OPay would rely on the University to verify applicants and ensure the credibility and integrity of the selection process.

Responding, the Vice-Chancellor of FUNAAB, Prof. Babatunde Kehinde, appreciated OPay for selecting the University for the initiative, noting that the company had voluntarily extended the opportunity to the institution.

Prof. Kehinde said the partnership would complement the efforts of the University, Students’ Union and individual members of staff in supporting students who sometimes struggle to meet school charges and other educational expenses.

He explained that although federal universities do not charge tuition fees, students are required to pay certain charges for services, including medical and ICT services, which can be difficult for some families to afford.

The Vice-Chancellor noted that FUNAAB has a student population of about 25,000, which is expected to rise to approximately 27,000, with students coming from diverse economic backgrounds who would benefit from additional financial support.

He assured OPay that the selection of beneficiaries would be transparent, merit-based and conducted with integrity.

Prof. Kehinde also highlighted existing structures within the University that could support the implementation of the partnership, including the Centre for Entrepreneurial Studies (CENTS) and the Career Services and Linkages Unit (CSLU).

He said the two units expose students to entrepreneurship, career opportunities, industry engagement and professional development.

The Vice-Chancellor further disclosed that FUNAAB has students who have independently formed technology-focused groups, reflecting growing interest in areas such as data analysis, digital technology and innovation across various disciplines.

Prof. Kehinde expressed confidence that the collaboration would not only reduce the financial burden on beneficiaries but also equip them with skills and opportunities to contribute meaningfully to society.

He assured OPay of the University’s commitment to working jointly with the company to ensure the transparent implementation of the scholarship and Innovation Challenge programmes.

The meeting culminated in the signing of the ₦60 million MoU, marking the commencement of a 10-year partnership expected to provide scholarship support, innovation programmes and employability opportunities for FUNAAB students.

Present at the meeting were 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.