Herbert Wigwe, co-founder of Nigeria’s Access Bank, is making a substantial investment of $500 million to establish a new university, named Wigwe University. This initiative aims to address the skills gap in the finance and technology sectors within Nigeria. The university plans to commence undergraduate admissions next year.
Wigwe University plans to offer courses in management, science and engineering, information technology, and creative arts. Described as a “hybrid” university, it will leverage technology to provide education comparable to leading institutions in the US and the UK.
Nigeria faces a significant skills crisis, with one in five out-of-school children globally residing in the country, according to UNICEF. Only 11.8% of Nigeria’s working-age population is employed, a Punch report claims. Private investors, including Wigwe, are stepping into the education sector due to the lack of funding, with 147 private universities established since 1999.
Tuition fees at Wigwe University are expected to be around $12,500 annually, significantly higher than public universities in the country. The university plans to recruit 30% of its teaching staff from the UK and the US. Herbert Wigwe intends to personally teach and mentor students. Collaboration with notable entrepreneurs, including Aliko Dangote, Africa’s richest man, is planned.
Wigwe University aims to enroll 1,400 students in its first year, with a projected increase to 10,000 within five years. Wigwe emphasises the university’s hybrid nature, integrating technology to match the education quality found in the US and UK. The use of holograms and artificial intelligence is planned for a technologically advanced learning experience.
The university’s leadership team includes Professor Miles Davis as Vice-Chancellor, Professor Nelson Uzoechi-Uzoma Alino as Deputy Vice Chancellor of Administration, and Professor Dal Didia as Deputy Vice-Chancellor of Academics.
The investment is seen as a response to Nigeria’s education challenges, with many wealthy Nigerians sending their children abroad for higher education.
