October 27, (THEWILL) – Nigerian businessman and philanthropist, Olufemi Otedola, was inaugurated as the chancellor of Augustine University on Thursday, October 25, 2023.
The entrepreneur conveyed the announcement via X, formerly known as Twitter, and Instagram.
In the statement posted on this social media platform, Otedola revealed his generous gesture of giving N1 million to each of the 750 university students.
“Today, I was inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with,” he said.
“I gave a gift of One Million to each of the Seven Hundred and Fifty Students.
“I hope this donation of Seven Hundred and Fifty Million Naira assists the plight of the parents of our students in this difficult time.”
This is not the first time Otedola has done such as he has made several donations to the Michael Otedola University Scholarship Scheme, which was established in 1985 to give underprivileged students in Lagos State access to higher education.
In 2005, Otedola made a N300 million personal donation to the completion of the National Ecumenical Centre, Nigeria’s primary place of Christian worship in Abuja.
In 2007, he was among a group of donors who gave N200 million to the State Security Trust Fund in a drive to reduce crime in Lagos State. Later that year, he donated N100 million to the Otedola College of Primary Education in Noforija, Epe.
In 2008, he donated N80 million to the Faculty of Agriculture at the University of Port Harcourt. Femi Otedola also fulfilled his pledge of 25,000 dollars to the Super Eagles in the match against Algeria in the 2019 AFCON.
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