By Grace Alegba
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.
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.
According to him, more collaboration between universities and industry remains 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.
“This building is more than a banking office. It symbolises a renewed and enduring relationship between UBA and the University of Lagos.
“We are investing in African youths and showing the confidence we have in this university,” he said.
Alawuba said the innovation hub would serve as a foundation for deeper collaboration in research, education, innovation and technology development.
He recalled that UBA was the first bank to establish a branch in a Nigerian university in 1969, adding that the branch currently serves more than 80,000 customers.
The UBA chief disclosed plans by the bank to improve digital connectivity around the facility through enhanced Wi-Fi access to support learning, research and innovation.
He also highlighted investments by the UBA Foundation in education through essay competitions, cultural initiatives and book distribution projects across Africa.
According to him, the foundation is considering extending its scholarship and essay competition programmes to tertiary institutions, beginning with UNILAG.
Speaking on technology, Alawuba said Artificial Intelligence (AI) had become central to global economic growth, noting that UBA remained one of Africa’s leading banks in AI adoption.
“We live in a world driven by technology and artificial intelligence.
“We will collaborate with the university in advancing innovation and preparing students for the future,” he said.
He urged students to embrace innovation and develop transformative solutions for Nigeria and Africa.
“Your ideas matter, your dreams are valid and your vision is worth investing in.
“Use this environment to learn deeply, innovate and create solutions for society,” he said.
Earlier, the Vice-Chancellor of UNILAG, Prof. Folasade Ogunsola, described the project as a major milestone in strengthening collaboration between academia and industry.
Ogunsola said the facility reflected the long-standing relationship between both institutions and a shared vision of investing in education, innovation and enterprise development.
According to her, universities and industries must work together to drive national development and economic growth.
She commended UBA Group Chairman, Mr Tony Elumelu, an alumnus of the university, for supporting his alma mater through infrastructure development, research partnerships and student-focused initiatives.
The vice-chancellor also highlighted UBA’s contributions to the institution, including the professorial chair in finance, the UBA Park and scholarships through the Tony Elumelu Foundation.
Ogunsola called for deeper collaboration through structured internship programmes, joint research in financial inclusion and digital banking, as well as support for entrepreneurship and innovation hubs.
“The inauguration of this facility is not just the commissioning of a building, but the institutionalisation of a partnership aimed at advancing education, enterprise and Africa’s economic growth,” she said.
Also speaking, President of the UNILAG Students’ Union, Mr Bolaji Akinpelu, said the innovation hub would be a major boost for student development and creativity.
“This is not just a beautiful building; it is an innovation hub where students can test ideas, develop solutions and become better versions of themselves,” he said.(NAN) (www.nannews.ng)
Edited by Olawunmi Ashafa
