Lagos: United Bank for Africa Plc (UBA) has deepened industry-academia collaboration with the inauguration of a four-storey Innovation Hub and Business Office at the University of Lagos (UNILAG). The News Agency of Nigeria (NAN) reports that the facility, located within the university campus, is aimed at promoting innovation, research and youth development.
According to News Agency of Nigeria, speaking at the inauguration, Group Managing Director, UBA, Mr. Oliver Alawuba, said the project is a strategic investment in education, innovation and Africa’s future. He emphasized the importance of collaboration between universities and industry as critical to driving economic transformation across the continent. NAN reports that the facility has two floors dedicated to UBA operations and two floors for UNILAG activities.
Alawuba described the building as a symbol of a renewed and enduring relationship between UBA and the University of Lagos, highlighting its purpose beyond just being a banking office. He stressed UBA’s commitment to investing in African youths and expressed confidence in the university’s potential. Alawuba noted that the innovation hub would serve as a foundation for deeper collaboration in research, education, innovation, and technology development.
He also recounted UBA’s history of pioneering efforts, being the first bank to establish a branch in a Nigerian university in 1969, and highlighted the branch’s current service to over 80,000 customers. Plans to improve digital connectivity around the facility with enhanced Wi-Fi access were disclosed to support learning, research, and innovation.
Further, Alawuba highlighted investments by the UBA Foundation in education through essay competitions, cultural initiatives, and book distribution projects across Africa. He also mentioned the foundation’s consideration to extend its scholarship and essay competition programmes to tertiary institutions, starting with UNILAG.
On the topic of technology, Alawuba emphasized the centrality of Artificial Intelligence (AI) to global economic growth and affirmed UBA’s leadership in AI adoption among African banks. He encouraged collaboration with the university to advance innovation and prepare students for future challenges, urging students to embrace innovation and develop transformative solutions for Nigeria and Africa.
Earlier, UNILAG’s Vice-Chancellor, Prof. Folasade Ogunsola, praised the project as a major milestone in strengthening the collaboration between academia and industry. She recognized the facility as a reflection of the long-standing relationship between UBA and UNILAG, sharing a vision of investing in education, innovation, and enterprise development.
Ogunsola emphasized the necessity of universities and industries working together to drive national development and economic growth. She lauded UBA Group Chairman, Mr. Tony Elumelu, an alumnus of the university, for his support through infrastructure development, research partnerships, and student-focused initiatives. The vice-chancellor called for deeper collaboration through structured internship programmes, joint research in financial inclusion and digital banking, and support for entrepreneurship and innovation hubs.
Also speaking, President of the UNILAG Students’ Union, Mr. Bolaji Akinpelu, acknowledged the innovation hub as a major boost for student development and creativity.