Nigerian banking mogul Herbert Wigwe is investing $500 million in a new university aimed at building skills for finance and technology in Nigeria.
Wigwe, co-founder and CEO of Access Holdings, plans to open Wigwe University next year offering undergraduate programs in management, science, engineering, IT and creative arts. He envisions needing up to $500 million over five years to scale up the institution.
Citing the staggering education crisis in Nigeria, Wigwe believes the hybrid university can leverage technology to achieve elite quality without extensive infrastructure. Wigwe himself will teach and mentor students alongside top entrepreneurs like Aliko Dangote.
With high tuition around $17,000 yearly, Wigwe University targets the nation’s wealthy who often study abroad. The university expects 1,400 initial enrollees, potentially rising to 10,000 within five years.
Wigwe intends the university to develop Nigeria’s next generation of leaders amid limited public funding for education. By focusing on critical skills like technology, he aims to address the urgent lack of expertise in key industries.
The Access Holdings founder joins other investors tapping the potential in Nigeria’s underserved education sector. His name-bearing university seeks to cultivate homegrown talent and skills crucial for the nation’s development.