In a remarkable philanthropic gesture, Nigerian billionaire investor and Geregu Power stakeholder, Femi Otedola, has extended scholarships of N1 million each to all 750 students at Augustine University. The scholarship program encompasses both new and returning students for the upcoming 2023/2024 academic session.Thank you for reading this post, don't forget to subscribe!
As the recently appointed Chancellor of Augustine University, Otedola emphasized his commitment to uplifting the institutions he is associated with. This generous scholarship donation amounts to a total of N750 million (Seven Hundred and Fifty Million Naira).
Otedola underlined that the scholarships would be accessible to all students, benefiting approximately 750 individuals, including around 500 returning students and an estimated 250 new first-year students.
Additionally, Otedola revealed further contributions to Augustine University, pledging N140 million for furnishing the newly completed Engineering faculty building and an additional N110 million for the installation of campus-wide street lighting and a backup generator.
This brings Otedola’s cumulative donation to an impressive N1 billion, in addition to his previous commitment of N2 billion for the construction of the Faculty of Engineering in March. The engineering faculty building has been named after Doja Otedola, his daughter, in recognition of her dedication to the university and its students.
Femi Otedola encouraged the students to aspire to become “employers of labor” and stressed the importance of entrepreneurship in a country where job creation is often overshadowed by job seeking.