UNICAL joins 7 other beneficiaries of OPay’s ₦1.2 billion 10-year scholarship scheme

Leading digital payment company, OPay, has announced the inclusion of the University of Calabar (UNICAL) in its landmark ₦1.2 billion 10-year scholarship scheme. The institution is the eighth beneficiary of the ongoing financial empowerment programme for Nigerian institutions in 2025.

According to a Memorandum of Understanding (MoU) signed with the University of Calabar for extensions of its Scholarship Programme to support the higher education drive in Nigeria, 20 outstanding UNICAL students will each receive ₦300,000 yearly, totalling ₦6 million in scholarships this year alone. The initiative is part of OPay’s ₦1.2 billion scholarship scheme aimed at supporting 400 students across 20 Nigerian tertiary institutions over a decade.

Speaking at the event, which was held at the institution in Calabar, Cross Rivers state, Vice-Chancellor of the University of Calabar, Prof Florence Obi, lauded the initiative and tagged it a timely intervention amid the gripping financial challenges facing students and the Nigerian society.

“OPay’s generosity is deeply appreciated. This scholarship programme is a very welcome initiative. This scholarship programme, in addition to the existing support schemes, will help many of our students and also inspire and encourage them to excel in their academics,” she said.

Prof Florence explained that some students face some challenges, which often lead to deferment of their academic session or dropping out because they can’t afford their charges. She added that OPay’s support will go a long way in ensuring they stay in school and pursue academic excellence.

The latest scholarship program further buttresses OPay’s commitment to alleviating financial burdens for students by strengthening them to focus on their career and personal development. 

According to OPay, the initiative is a financial aid and a long-term strategy to cultivate talent and empower the next generation of innovators and leaders in Nigeria.

The company continues its strategic plan to invest in future leaders by partnering with the University of Calabar.

Head of Partnerships at OPay, IK Odiase, stressed the company’s commitment to laying a strong social impact through education. 

“We know the economic realities students face today. This scholarship is not just financial aid, but a stepping stone to a better future. We are not only offering funds, we are opening doors to internship opportunities, job placements, and long-term collaboration.”

Also Read: OPay awards N6 million to Benue State University as part of N1.2bn 10-year scholarship.

In addition, OPay’s Community Social Responsibility (CSR) Manager, Itoro Udo, stated that this initiative is only the beginning of deeper engagements across institutions. He explained that the company is looking at opportunities that will outlast the present and create sustainable value for students and the institution. 

The Marketing Manager, Rhenua Adebo, again highlighted the essential of student visibility and engagement.

“We are already talking with students. We want them to see their peers benefiting and be inspired. Scholarships are just the start, we are interested in their holistic growth, including sport, digital skills, and visibility on campus,” he said.

See beneficiaries list of OPay’s ₦1.2B (as of June 2025)

The scholarship scheme aims to reach university and polytechnic students across Nigeria, and the University of Calabar is the eighth beneficiary in this year’s scheme. The milestone follows the successful implementation of the scholarship programme in seven other institutions this year. Some are:

• In March, OPay provided ₦6 million to 20 undergraduate students of the University of Ilorin (UNILORIN), with each recipient receiving ₦300,000 per session.
• Also in March, Obafemi Awolowo University, Ile-Ife, became the third beneficiary of the scheme in Nigeria.
• In April, 20 students from Kwara State Polytechnic each received scholarships worth ₦300,000, making the Ilorin-based institution the first polytechnic to benefit from the program.
• In May, the scholarship was extended to the Federal University of Technology, Minna (FUTMINNA).
• Also in May, the scheme extended to Benue State University, becoming the seventh beneficiary and the third institution from the North-Central. 

Last year, the initiatives touched institutions like the University of Ibadan and Nnamdi Azikiwe University in November. Around the same period, the company disbursed ₦12 million scholarships to 40 indigent students of Ahmadu Bello University, Zaria, with each student receiving ₦300,000.

Why does this matter?

OPay’s CSR footprint contributes to Nigeria’s progress through education and opportunity. The financial assistance structured for academically distinguished students proves pivotal for their continuous educational excellence, innovative thinking, and dedication to community service.

A beneficiary, Tijani Rose, a 200L student of Computer Science at the University of Ibadan, explained that the scholarship will allow her to focus more on her studies. 

“This was an unexpected but very welcome opportunity. I feel really excited to have been a beneficiary of this scholarship programme.. This scholarship will greatly impact my education, by a very large stride. Now, I can take my mind off where the next school fees will come from and can focus on what really matters – my grades and studies.”

Another recipient, Toheeb Adeogun Adetayo, expressed his gratitude to OPay, saying, “I am feeling so happy right now being a beneficiary of OPay’s scholarship. It was so unexpected, I just received the call that I am one of the beneficiaries…. I am very grateful to OPay.”