By Ayomide Otitoju
MoMo Payment Service Bank (MoMo PSB), a subsidiary of MTN Nigeria, has launched a subsidised transport initiative that will allow students of the University of Lagos (UNILAG) to access campus shuttle rides for just ₦10 per trip. The initiative, delivered in partnership with Ogata Electric Vehicles, aims to reduce transportation costs for students while promoting sustainable mobility.
MoMo PSB, which provides secure financial services such as transfers, savings, card services and digital wallets, says the subsidy aligns with its mission to improve everyday life through financial inclusion and accessible technology.
“We see education as one of the strongest investments we can make in this nation,” said MoMo PSB Chief Executive Officer, Phrase Lubega. “With rising transport costs, a ₦10 fare will help students move around easily, attend classes and stay focused on their academic goals. By making campus mobility more affordable, we are reinforcing our commitment to the financial wellbeing of young Nigerians.”
The shuttle service is powered by electric vehicles, supporting the company’s sustainability efforts by reducing emissions and improving campus air quality.
Under the arrangement, students pay the standard ₦100 fare from their MoMo wallets to Ogata’s MoMo account at designated bus stops via transfer or QR code and receive a ₦90 cashback instantly. For students who rely on frequent daily trips, the savings are expected to provide meaningful financial relief.
Ogata CEO, Okusami Itunuoluwa, described the partnership as a significant step toward improving student commuting. “By integrating MoMo’s seamless digital payment system, we are reducing delays and challenges associated with cash transactions, ensuring faster and more reliable campus transportation. We value MoMo PSB’s trust in us and look forward to expanding this student-centered initiative.”
MoMo PSB has also introduced new discounted data bundles available exclusively on the MoMo app, including 1GB for ₦200 and 2.5GB for ₦500—considerably cheaper than comparable bundles on other platforms. The offer is designed to make data more affordable for students and other MoMo users.
