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Moniepoint Makes Landmark ₦3bn Investment in Nigerian Universities
Africa’s all-in-one financial ecosystem platform, Moniepoint Inc, has announced a ₦3 billion investment to establish three Innovation Hubs across leading federal universities in Nigeria over the next three years—one of the most significant private-sector interventions in Nigerian higher education in recent times.
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The initiative is designed to produce at least 500 university-based developers annually, directly addressing Africa’s growing tech talent gap as the continent’s digital economy accelerates.
Innovation Hubs to Span Nigeria’s Key Regions
The Moniepoint Innovation Hubs will be located at:
- Obafemi Awolowo University (OAU)
- University of Nigeria, Nsukka (UNN)
- Ahmadu Bello University (ABU)
The universities were strategically selected to ensure geographic balance and inclusive access, reinforcing Moniepoint’s commitment to spreading opportunity across Nigeria rather than concentrating it in a single city or region.
Building on DreamDevs and Proven Talent Models
The initiative builds on Moniepoint’s flagship DreamDevs programme, which equips recent graduates with industry-ready skills and real-world experience.
It also draws inspiration from the HatchDev programme at the University of Lagos, championed by Moniepoint co-founder and CTO Felix Ike in partnership with NiITHub. HatchDev currently trains about 500 developers annually, providing a tested model for scalable talent development.
Hands-On Training for the Digital Economy
Each Moniepoint Innovation Hub will operate as a permanent, hands-on learning centre, offering training in:
- Software engineering
- Data science and artificial intelligence
- Design and product development
- Robotics and emerging technologies
- Entrepreneurship and innovation
Open to students across all faculties, the hubs will take participants from curiosity to career readiness through cohort-based learning, mentorship, and real-world project execution.
Official Launch at OAU
The initiative was formally unveiled at Obafemi Awolowo University, Ile-Ife, in a ceremony attended by vice-chancellors of the three universities, senior academics, industry leaders, students, alumni, and members of Nigeria’s innovation ecosystem.
CEO: “Nigeria’s Digital Future Must Be Built at Home”
Speaking at the launch, Moniepoint Group Co-Founder and CEO Tosin Eniolorunda said the initiative was a way of reinvesting in the institutions that shaped Moniepoint’s leadership.
“When you look at the success of companies like Moniepoint, it’s easy to forget that it all started with the foundational training we received right here in Nigerian universities. This initiative is about paying that trust forward.”
He added that Nigeria’s digital economy needs localized, high-density tech talent, not just raw potential:
“By launching these Innovation Hubs beginning with OAU, UNN, and ABU Zaria, we are intentionally anchoring world-class technical skills across the country. This is just the first step as we look to other tertiary institutions.”
Universities Welcome Industry-Led Collaboration
The Vice-Chancellor of OAU, Adebayo Simeon Bamire, described the partnership as a strong alignment of academia and industry.
“Obafemi Awolowo University has always stood for excellence and the belief that knowledge must serve society. The Moniepoint Innovation Hub will not only expand what our students can learn, but also transform what they believe is possible.”
Beyond Funding: Mentorship, Internships and Live Projects
Beyond financial investment, Moniepoint will provide:
- Curriculum co-development
- Mentorship from industry experts
- Internship and career pathways
- Direct collaboration with Moniepoint’s engineering, product, and business teams
Students will work on live projects, gain exposure to real market challenges, and connect with Moniepoint’s network of engineers, investors, and ecosystem leaders.
Building on Earlier STEM Investments
The Innovation Hubs also build on earlier interventions by the Tosin Eniolorunda STEM Foundation, including a ₦100 million+ CAD/CAM laboratory at OAU’s Department of Mechanical Engineering, as well as continued support for the HatchDev programme at the University of Lagos.
Powering Africa’s Digital Future
According to Moniepoint, the initiative aligns with its broader mission of creating financial happiness for every African, everywhere.
A goal the company says requires investment not only in financial infrastructure, but also in talent pipelines and educational institutions that will drive Africa’s long-term prosperity.
