Femi Otedola Gifts all 750 Students of Augustine University N1 million Each

In a heartwarming display of benevolence, Femi Otedola, the prominent Nigerian billionaire and Chairman of Geregu Power, took on a new role as Chancellor of Augustine University, marking a significant occasion in the institution’s history. The inauguration ceremony unfolded in the university’s auditorium situated in the tranquil town of Ilara within the Epe local government area of Lagos State, Southwestern Nigeria.

During this momentous event, Mr. Otedola expressed his gratitude to the divine for his new role and the opportunity to contribute to education and society.

The highlight of this exceptional day was Femi Otedola’s extraordinary donation of One Million Naira (N1 million) to each of the 750 students at Augustine University. This remarkable gesture translated to a substantial scholarship fund amounting to an astounding N750 million (Seven Hundred and Fifty Million Naira).

Mr. Otedola emphasized that this scholarship fund would benefit both returning students and the new first-year entrants. Augustine University boasts approximately 500 returning scholars and an estimated 250 newcomers, making this remarkable scholarship accessible to a total of about 750 students.

In his announcement, the billionaire shared, “I hereby announce a scholarship donation of One Million Naira each to every returning student and each new first-year student of our University, towards the 2023/2024 session school fees of each student. I am told that there are 500 returning students and about 250 new first-year students, making a total scholarship donation of N750 million (Seven Hundred and Fifty Million Naira). I hope this donation assists the plight of the parents of our students in this difficult time.”

Femi Otedola’s generous act serves as an inspirational example of philanthropy and dedication to the advancement of education, touching the lives of hundreds of students at Augustine University and demonstrating the positive impact that influential figures can have on society.