Billionaire businessman and Chairman of First Bank Plc, Mr. Femi Otedola, has pledged ₦4 billion for the construction of a new Electrical and Electronics Engineering Block at Augustine University, Ilara-Epe, Lagos.
The announcement came during the university’s seventh convocation ceremony, where Otedola, who also serves as the institution’s Chancellor, revealed his latest round of donations and support initiatives.
In a heartwarming gesture, he also awarded a ₦10 million cash gift to Emmanuel Opeoluwa, a physically challenged graduate from the Department of Philosophy, who completed his studies while using a wheelchair.
According to Otedola, construction of the new engineering block is expected to be completed by the 2026 convocation ceremony.
The billionaire philanthropist has been a consistent benefactor of Augustine University. He previously donated a ₦2 billion Engineering Faculty Complex, comprising four blocks, with the first phase—completed at a cost of ₦670 million—commissioned in February 2023.
At the university’s fifth convocation in October 2023, Otedola also donated ₦750 million to cover tuition fees for 750 returning and new students for the 2023/2024 academic session.
Speaking at the ceremony, he said:
“The contractor and I signed the agreement for the construction of the Electronics Engineering Block this morning. I hereby announce my donation of ₦4 billion for the project.”
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