The University of Lagos has partnered with MoMo Payment Service Bank (MoMo PSB) and Ogata Electric Vehicles to introduce a subsidized transport scheme for students. The scheme offers bus rides for ₦10, a significant reduction from the usual ₦100 fare. To access the subsidized fare, students pay the full fare from their MoMo account and receive an instant refund of ₦90 as cashback. The subsidy applies to the most frequently used routes on campus, ensuring that students enjoy maximum relief.
The initiative aims to make commuting easier and more affordable for students, reducing daily stress factors and making essential services more accessible. MoMo PSB’s CEO, Phrase Lubega, notes that transport should not be an additional burden for students, who already face pressure from academics, projects, and extracurricular activities. The partnership with Ogata Electric Vehicles also promotes the use of electric vehicles, contributing to a greener future and a cleaner campus environment.
The digital payment process has improved operations, reducing cash handling and ensuring a more reliable flow of buses throughout the day. Ogata Transport’s CEO, Henry Eke, emphasizes that the collaboration brings meaningful benefits to students, helping them save money and supporting their financial welfare. The partnership also reflects MoMo PSB’s commitment to providing simple and secure financial services, embedding financial convenience into students’ everyday routine.
In addition to the transport scheme, MoMo PSB has introduced two new affordable data bundles, exclusively available on the MoMo app. The bundles offer 1GB for ₦200 and 2.5GB for ₦500, significantly lower than prices offered on other platforms. This initiative aims to minimize the everyday cost of essential services for students and all MoMo customers, making connectivity more accessible and affordable for everyone.
The initiative has been well-received by students, who describe it as timely, impactful, and a major boost to punctuality, comfort, and energy levels. MoMo PSB’s commitment to student communities and environmental sustainability is evident in this partnership, which promotes the use of electric vehicles and provides affordable financial services. Students can access the subsidized transport scheme and affordable data bundles by downloading the MoMo PSB App or visiting the MoMo PSB social media pages.