Herbert Wigwe, a co-founder of Access Bank, is building a $500 million institution bearing his name in Rivers State, an oil-rich area of Nigeria.
According to Wigwe, undergraduate programs in science, engineering, management, information technology, and the creative arts will be offered at Wigwe University.
Following in the footsteps of wealthy Nigerians like former vice president Atiku Abubakar, Wigwe is pursuing higher education. As a result, there are currently 238 universities in Nigeria, with 79 being state-run and 147 private. The Nigeria University Commission approved the university’s license in June.
Wigwe, who plans to hire thirty percent of the teaching staff, is betting that the university can use technology to deliver education on par with those of US and UK universities, where 1,400 students are expected to enroll in the following academic year.
In an interview with BusinessDay, Wigwe stated that the institution has built a power plant to supply electricity and that it will use holograms and artificial intelligence to ensure that students have access to a hybrid system. It is expensive for one of the poorest nations in the world, nevertheless, just like other private institutions. The annual tuition for a student at Wigwe University ranges from $12,500 to 3.5 million naira ($4,171).
With decades of expertise in the banking sector, Wigwe also intends to mentor the “next generation of banking leaders” and has invited well-known businesspeople to teach at the institution, including the richest man in Africa, Aliko Dangote.
Wigw institution’s vice chancellor will be Professor Miles Davis, a former president of a private institution in the United States. Professor Dal Didia, a former Jackson State University economics professor, will serve as the deputy vice chancellor of academics, while Professor Nelson Uzoechi-Uzoma Alino, a former Quinnipiac University accounting professor, will serve as the deputy vice chancellor of administration.
