Nigerian billionaire and philanthropist Femi Otedola has donated N3.7 billion to help build a new facility for the Engineering Faculty at Augustine University, Ilara Epe.
He made this announcement during the university’s 6th convocation ceremony, where he serves as the Chancellor.
Otedola said he is committed to improving education and creating a top-level engineering program at the school.
In his speech, Otedola expressed pride in the university’s progress and shared his dream of making it a leader in engineering education.
He mentioned that the second phase of the new building is almost ready to begin, and the construction should be finished within the next 12 months.
“I am happy to announce the donation of N3.7 billion for the Phase 2 building of the Engineering Faculty,” Otedola said. “God willing, I look forward to being here next year to open the completed building.”
This donation follows Otedola’s earlier contribution to complete the first phase of the Engineering Faculty.
He also promised N140 million to furnish the new building and N110 million to install streetlights and a backup generator for the campus.
Otedola spoke about the importance of giving students the best facilities and supporting the university’s mission to develop not only smart graduates but also students with strong morals and values.
He wants the university to produce graduates who are both skilled and focused on helping society.
Otedola’s donation is another step in his long-term support for education in Nigeria. In 2023, he also donated N1 million to each of the 750 students at Augustine University, totalling N750 million.
The scholarships are for both new and returning students during the 2023/2024 school year, showing his dedication to helping students succeed.
Femi Otedola, with a net worth of $1.4 billion, is one of Nigeria’s richest people and continues to make a positive impact by supporting education in the country.
