MoMo Payment Service Bank (MoMo PSB), the fintech arm of MTN Nigeria, has partnered with Ogata Electric Vehicles to roll out a subsidised transport scheme that allows students of the University of Lagos (UNILAG) to pay just N10 per trip on campus shuttle services.
The initiative is designed to ease transportation costs for students while promoting cleaner mobility within the university environment.
Under the arrangement, students pay the regular N100 fare from their MoMo wallet into Ogata’s MoMo account using transfers or QR payment.
They then receive N90 cashback instantly, effectively bringing their transport cost down to ₦10 per ride. For students who make multiple daily trips between the Main Gate and the campus, the savings are expected to add up significantly.
Phrase Lubega, Chief Executive Officer of MoMo PSB, said the scheme aligns with the organisation’s goal of supporting young Nigerians through financial inclusion and accessible digital services.
“We see education as one of the strongest investments we can make in this nation,” Lubega said. “Transport costs have risen, and a N10 fare is our way of helping students move easily, attend classes, and remain focused on their academic goals. By making campus mobility more affordable, we are strengthening our commitment to the financial well-being of young Nigerians.”
Cleaner mobility through electric vehicles
MoMo PSB said the partnership also advances its sustainability agenda, as all buses deployed for the shuttle service are electric vehicles. According to the company, the use of EVs helps reduce carbon emissions and contributes to a cleaner campus environment.
Ogata Electric Vehicles, operators of the bus service, said the initiative will improve commuter experience and eliminate delays associated with cash-based transactions.
“This partnership represents an important step forward in improving the commuting experience for the students we serve,” said Ogata CEO, Okusami Itunuoluwa. “By integrating MoMo’s digital payment system, we are eliminating the challenges and delays associated with cash transactions, ensuring a smoother and more reliable process across our operations.”
He added that the company looks forward to expanding the collaboration as it continues to invest in sustainable, student-focused transport solutions.
Additional data bundles for students and young users
Beyond transportation, MoMo PSB has also introduced new discounted data bundles accessible exclusively through the MoMo app. The packages include 1GB for ₦200 and 2.5GB for ₦500—rates significantly lower than similar bundles priced at N500 and N950 on other platforms.
The fintech company said the bundles are part of its strategy to provide more affordable digital access for students and other young users who rely heavily on mobile internet for academic work and daily communication.
MoMo PSB currently offers a range of financial services including transfers, savings, bill payments, card services, and secure wallet solutions, with the broader goal of reducing barriers to essential services through technology-driven financial inclusion.
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