Renowned Nigerian billionaire businessman, Femi Otedola, was officially inaugurated as the Chancellor of Augustine University in Lagos on Thursday, representing a significant milestone in the institution’s history.
The inauguration ceremony was a moment of distinction and philanthropy with Otedola taking to his verified Instagram page to announce his new role and his remarkable gesture of benevolence.
In response to the prevailing challenging economic conditions, Otedola donated N750 million to the university.
He distributed N1 million to each of the 750 students at Augustine University, expressing his desire to alleviate the financial burdens of the students’ families.
In his Instagram statement, Otedola said, “I hope this donation of Seven Hundred and Fifty Million Naira assists the plight of the parents of our students in this difficult time.”
Augustine University, founded in 2015, selected Otedola as its Chancellor on April 7, 2022.
The university’s spokesperson, Nicholas Obayi, noted that Otedola’s appointment was richly deserved, given his unwavering commitment to philanthropic causes.
Otedola’s installation as Chancellor not only brings honor to Augustine University but also exemplifies his dedication to uplifting educational institutions and supporting the aspirations of Nigerian youth.
His generous donation is a testament to his belief in the transformative power of education and his commitment to improving the lives of students during challenging economic times.
