OPay has provided financial support to 420 students across Nigeria after disbursing N126 million as the first phase of its N1.2 billion scholarship programme.
The initiative was unveiled at the Empowering Futures Conference held in Lagos, where the beneficiaries were drawn from 20 public tertiary institutions across the country.
The company explained that the scholarship is part of its long term plan to support Nigerian youths and improve access to higher education. OPay’s Chief Commercial Officer, Elizabeth Wang, said the programme is designed to assist bright but financially challenged students. She stated, “In this first year, OPay disbursed N126 million to 420 students nationwide, providing each with N300,000 in educational support. We believe in the future and the students are that future.”
According to OPay, the scholarship aims to run for 10 years and will cover more beneficiaries each academic year. The financial support awarded to each student is expected to cater for tuition and other educational needs to ease their academic journey. Beneficiaries will receive the funding over two academic sessions based on eligibility.
Students who qualified for the programme were selected based on academic performance and financial need. The company outlined that applicants must maintain a minimum CGPA of 2.8 on a 4 point scale or 3.5 on a 5 point scale and must be in their second or third year of study in selected public universities and polytechnics across Nigeria.
Vice chancellors and representatives of the beneficiary institutions praised the gesture, describing it as a timely intervention for many students finding it difficult to sustain their education. Institution heads commended OPay, noting that the scholarship would have a positive impact on the academic performance and morale of students. One university head said it was a “laudable step for the nation’s educational sector.”
OPay added that beyond the scholarship, it will continue to invest in educational development and technology driven learning in higher institutions. The company also mentioned plans to support related projects, including the establishment of a cyber lab at the University of Calabar to aid digital learning among students.