Femi Otedola Becomes University Chancellor, Awards N750 Million in Scholarships

Nigerian businessman and philanthropist, Femi Otedola, has given 750 students at Augustine University in Lagos State N1 million each. This generous gift is to help the students with their education expenses. Mr. Otedola made this announcement during his appointment as the university’s Chancellor.

The total scholarship amount is N750 million, and it’s for both returning and new students for the academic year 2023/2024. He hopes that this financial assistance can ease the burden on the students’ families during these tough economic times in Nigeria.

Additionally, Mr. Otedola has trust in the university’s ability to manage these funds properly. His aim is not only to provide financial support but also to promote academic excellence and national development.

Apart from the scholarships, he has pledged further contributions to the university, including N140 million for furnishing an engineering faculty building, N110 million for installing street lights on the campus, and a new backup power generator. In total, he has donated N1 billion to the university, on top of a previous commitment of N2 billion for an engineering faculty.

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Mr. Otedola encouraged the graduating students to strive for success and be entrepreneurs, using their education to make a positive impact on society. He emphasized the importance of determination and resilience in overcoming challenges.