Olabisi Onabanjo University (OOU), Ago-Iwoye and Palton Morgan Holdings, a luxury real estate company based in Lagos, have signed a Memorandum of Understanding (MoU) to establish a scholarship programme aimed at supporting indigent students in the institution. The scholarship, which was an initiative of the real estate company, will be available annually to 15 beneficiaries in Architecture, Estate Management and Engineering programmes. The scheme is scheduled to begin from the 2025/2026 academic session.
Under the new scholarship programme, each beneficiary is expected to receive financial support of N300,000 annually, comprising tuition fees up to N200,000 and one-time annual educational materials support of N100,000. The payments will be made directly to the beneficiaries’ bank accounts.
Speaking at the signing ceremony held in his office on Friday, 21st November, 2025, the Vice-Chancellor, Prof. Ayodeji Agboola, expressed excitement over the scholarship programme, noting that it will open doors for several deserving students who lacked the financial wherewithal to pursue their education. This, he added, will strengthen the University’s research capacity and promote academic excellence to drive the nation’s socio-economic development.
Prof. Agboola, who was represented by the Deputy Vice-Chancellor, Administration, Prof. Oladipo Olubomehin, thanked the real estate company for its confidence in the vision of the University and for committing resources to the collaboration with the institution. He pledged the University’s full commitment to upholding the principles of the scholarship agreement, to monitor its progress and ensure that the benefits reach those who need them most.
According to him, the scholarship agreement is a testament to the fact that no talented student should be left behind because of financial constraints. He, therefore, advised students of the institution to seize the opportunity offered by the scholarship to excel in their studies.
Prof. Agboola said, “I welcome you to Olabisi Onabanjo University and I want to say that the Management is pleased that you have chosen our University to assist our students, especially the indigent ones. It gladdens our hearts that some of our products are also part of your organisation.”
“On our part, we will keep our own terms of the contract. That’s an assurance we are giving you and we are even looking forward to you expanding the number of the scholarship beneficiaries from 15. We are expecting that you grow the number. Our population is much. We have over 30,000 students. So, we expect that as you see us being faithful with our part of the contract, you will consider increasing the number.”
The Vice‑Chancellor underscored the importance of University education, saying it is the cornerstone of national development and determinant of the skilled workforce needed to drive sustainable economic growth and social progress. He also reaffirmed the commitment of the current University Management to the “3Es Agenda” which places emphasis on education, employability and entrepreneurship.
“Education is the most powerful engine of social mobility. By pooling our resources, we create a safety net that lifts individuals out of poverty and equips them to drive national development. I know because of your influence in the corporate world, you can also get more people to support what we are doing in the University,” he said.
In his remarks, the Executive Director of The Adeyinka Adesope Foundation, Mr. Samuel Akinnuga, described the Palton Morgan Scholarship Programme as an educational initiative of Palton Morgan Holdings, designed to support bright but financially disadvantaged students throughout the duration of their University education. He said the Group Managing Director and Chief Executive Officer of the company, Mr. Adeyinka Adesope, remains a proud alumnus of the University and is always willing to give back to his alma mater, not only through financial support but also employment opportunities for products of the institution.
Akinnuga said, “Palton Morgan is a success story in Corporate Nigeria when it comes to construction and real estate. And we are also training the future of those who would manage that business. It means that those who are beneficiaries of the scholarship would also get a chance on the issue of employment. That is the second leg of it.’’
“We are not just giving money, we are also saying when you are done with school, we can actually absorb you into the system and you don’t have to start struggling in the labour market. So, that’s the enduring promise we are making to the University. If the beneficiaries do very well – whether in Engineering, Architecture or Estate Management – they have a chance of getting a job here.”
Also speaking in the same vein, the company’s Regional Director, Mrs. Adenike Ibrahim, declared that the scholarship programme aligned with the corporate social responsibility of Palton Morgan Holdings and its value of supporting educational development in Nigeria. She stressed that by investing in bright and motivated students, the company can help create a pool of skilled professionals who may join it in the future.
She said, “The company has employed corps members and helped them grow to become CEOs in other real estate companies. So, by sponsoring this scholarship, we can actually start from the roots; we nurture them, and when they come into the system, one of the values we inculcate in them is: you also pay it forward. What Palton Morgan has done for you, when God blesses you enough, you do it for someone else.”
“Our Group Managing Director graduated from here and for him to come back here to do this, he must have seen what a lot of students go through. Many faced difficulties before graduating from school.”
The Regional Director assured that the number of scholarship beneficiaries would be increased in due course, saying: “we are not limited to 15. We are just starting with that number. As time goes on, we will also increase what we would do. So, let’s start it this way and see how far we will go together.”
Present at the signing ceremony were the Registrar, Dr. Bayo Orukotan, and the University’s Legal Officer, Mrs. Abimbola Onoja. Also in attendance were officials of Palton Morgan Holdings, including Mr. Adedamola Adigun, Technical Assistant to the Group Managing Director; Miss Folake Johnson, Head of Marketing; and Mr. Seun Awodeyin, Marketing Officer.