Fintech company Moniepoint has unveiled a N3 billion investment plan to establish innovation hubs across three Nigerian federal universities, as the company moves to expand a university-based developer training model that could produce hundreds of technology talents annually.
The initiative, announced on Monday, will see new Moniepoint Innovation Hubs established at Obafemi Awolowo University (OAU), University of Nigeria, Nsukka (UNN), and Ahmadu Bello University (ABU), Zaria over the next three years.
The move signals a broader shift by Nigerian technology firms to build talent directly from universities amid growing demand for software engineers, AI specialists, product designers and data scientists.
Moniepoint said the hubs would provide practical training in software engineering, artificial intelligence, robotics, product development, entrepreneurship and related fields through structured cohort-based programmes.
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The company is also looking to replicate and expand earlier university training initiatives already linked to its founders.
Moniepoint referenced the HatchDev programme at the University of Lagos, which was championed by Felix Ike, the company’s co-founder and chief technology officer, in partnership with NiITHub innovation centre. The programme currently trains about 500 developers annually.
Industry observers say the latest expansion suggests Moniepoint is attempting to scale a similar talent development structure across multiple regions of the country at a time when Nigerian startups are increasingly struggling to recruit experienced engineers locally.
Unlike many innovation centres concentrated in Lagos and Abuja, Moniepoint said the new hubs were deliberately spread across the South-West, South-East and Northern regions to widen access to technology opportunities.
The company said students from all faculties would be eligible to participate in the programmes, which would combine mentorship, live projects and direct exposure to industry practices.
Speaking during the launch event at OAU, Ile-Ife, Tosin Eniolorunda, Moniepoint group co-founder and chief executive officer, said Nigeria’s digital economy requires stronger local talent development to sustain growth.
“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.
“Nigeria’s digital economy cannot run on potential alone; it requires immense, localized talent density. By launching these Innovation Hubs beginning with OAU, UNN, and ABU Zaria, we are intentionally anchoring world-class technical skills across the country,” he added.
Eniolorunda also disclosed that the company plans to extend the initiative to more tertiary institutions in the future.
Adebayo Simeon Bamire, vice chancellor of OAU, described the partnership as a major boost for innovation and higher education.
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“This partnership with Moniepoint Group is a powerful affirmation of our 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,” he said
Beyond physical infrastructure, Moniepoint said it would provide curriculum support, internship pathways, expert-led learning sessions and mentorship from its engineering and product teams.
Participants will also gain access to Moniepoint’s wider network of engineers, investors and technology leaders.
The investment adds to growing private sector efforts to address Nigeria’s digital skills shortage as fintechs and technology startups continue expanding into payments, banking infrastructure, AI and cloud services.
Analysts say companies are increasingly turning to universities because of the limited supply of industry-ready engineers in the local market and the rising cost of recruiting experienced talent.
The initiative also builds on previous investments made through the Tosin Eniolorunda STEM Foundation, including the establishment of a CAD/CAM laboratory valued at over N100 million at OAU’s department of Mechanical Engineering.
For many students outside Nigeria’s main commercial centres, the new hubs could provide rare access to advanced technology training, startup mentorship and potential employment pathways without relocating to Lagos or Abuja.
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