Femi Otedola Surprised all Augustine University Students with a N1 Million Giveaway Each

Renowned Nigerian billionaire investor Femi Otedola has made a historic philanthropic move by donating a generous sum of N1 million to each of the 750 students of Augustine University.

As the newly inaugurated Chancellor of Augustine University, Otedola announced this scholarship donation, totalling N750 million (seven hundred and fifty million naira), during his acceptance speech at the university.

The scholarship benefits both returning and new first-year students. Approximately 500 returning students and 250 new first-year students are expected to receive this support, which aims to alleviate the financial burden on families affected by Nigeria’s challenging economic climate.

In addition to the student scholarships, Otedola pledged N140 million for the furnishing of the recently completed Engineering faculty building and another N110 million for the installation of street lights around the campus and a new standby generating set.

This brings his total donation to a staggering N1 billion, aside from his earlier commitment of N2 billion for the construction of the Faculty of Engineering.

This historic donation is significant in the context of higher education in Nigeria and sets a precedent for private philanthropy in the academic sector.

It is expected to have a broad and positive impact given the economic difficulties many Nigerian families face, especially when it comes to affording quality education.

Femi Otedola’s philanthropic commitment is not just about providing financial relief but encouraging academic excellence and national development.

His act of generosity aligns with his late father’s dreams of developing the university and is likely to challenge other affluent individuals to consider the lasting impact such philanthropic acts can have on Nigeria’s future.

Source: Nairametrics