Billionaire Femi Otedola Donates Fresh N3.7bn To Augustine University

Billionaire businessman and philanthropist Femi Otedola has announced the donation of another faculty of engineering complex worth N3.7 billion to Augustine University at Ilara Epe in Lagos.

Otedola, who is the institution’s Chancellor, made the announcement during his address at the university’s 6th convocation ceremony, expressing his vision for the university to become a centre of excellence for engineering studies.

The latest donation is in addition to Otedola’s previous donation of N2 billion for the construction of the first phase of the engineering faculty complex, which was completed in February 2023.

Also, during the university’s 5th convocation ceremony, the billionaire donated N1 million each to 750 students to cover their tuition fees in commemoration of his appointment as the Chancellor of the university.

Otedola, who is also the Chair of FBN Holdings PLC and Chair of Geregu Power PLC, noted that the new building is to be completed within 12 months.

“I hope by the grace of God to be with you this time next year to cut the tape for the completed building,” he said.

Otedola, in his remarks, urged graduates to carry the values of the university’s motto of Pro Scientia et Moribus, meaning for learning and character, with them, emphasising that true education must develop both the mind and heart.

He stated: “Your education has been designed to help you grow not just as professionals but as people of character. I challenge you to carry the spirit of Pro Scientia et Moribus with you wherever you go.”

He added that as a Catholic institution, the university aims to produce graduates who are morally grounded, technically proficient, and committed to serving the common good.

Otedola also encouraged graduates to use their skills, ideas, and leadership to make a positive impact in the world.

“You are entering a world that needs your character. It needs people who will stand up for what is right, use their knowledge to solve problems, and lead with compassion and empathy,” he said.

Augustine University is a private Catholic-owned university located in Ilara, a town in the Epe local Government area of Lagos.