Otedola donates N750m to students

Multimillionaire Femi Otedola has revealed that Augustine University Ilara-Epe in Lagos State is offering new and returning students a scholarship worth N750 million.

The business tycoon gave 250 first-year students and 500 returning students each N1 million.

Otedola gave a speech on Thursday, October 26, at the institution's Fifth Convocation in Epe and at his investiture as Chancellor.

He stated that the act was prompted by the difficult financial circumstances in the country.

He expressed his hope that the act will inspire the students to put in a lot of effort and become exceptional citizens who will advance the country.

He said: “To commemorate my appointment as Chancellor today and in recognition of the harsh economic situation, I announce a scholarship to each returning student, and each first year studentin the amount of N1 million for the 2023/2024 session school fees."

Otedola also donated N140 million towards furnishing of the Engineering Faculty building and N110 million for installation of street lights and generating set.

He reiterated his commitment to development and empowerment of youths through quality education.

Students in public schools in Ibadan yesterday benefited from the maiden Odunola Akande Foundation Young Scholars Academic Excellence Award.

Otedola also gave N110 million for the installation of street lights and a generator set, as well as N140 million for the Engineering Faculty building's furnishings.

He reaffirmed his dedication to youth development and empowerment through high-quality education.

GA