Businessman and philanthropist Femi Otedola has announced a donation of ₦4 billion to Augustine University, Ilara-Epe, for the construction of a new Electrical and Electronics Engineering Block.
Otedola, who is the Chancellor of the Catholic-owned university, made the announcement on Thursday during the institution’s 7th Convocation Ceremony and 10th Anniversary celebration.
He said the new donation would fund the second phase of the university’s Faculty of Engineering, which had been delayed due to rising construction costs caused by inflation. The new facility will complement the existing Dame Doja Otedola Faculty of Engineering, named after his mother.
“I hereby announce my donation to the University of the Electronics Engineering Block at the cost of ₦4 billion,” Otedola said. “I have brought with me a cheque of ₦500 million, which I hereby present to the contractor. Based on the contract schedule, construction should be completed by the 2026 convocation.”
Otedola added that he and the contractor had signed the construction agreement earlier in the day, marking the formal start of the project.
The donation follows several others made by the billionaire to the institution. In 2024, he contributed ₦3.7 billion toward the development of the Faculty of Engineering and other facilities. He also awarded ₦1 million each to 750 students to support their studies.
During his address, Otedola commended the university’s growth over the past decade and reaffirmed his commitment to its mission of providing “integral education for a borderless world.”
He also presented 1,000 copies of his book, Making It Big, to students, faculty, and staff, urging graduates to uphold the university’s values of knowledge and character.
The Chancellor congratulated the new Vice-Chancellor, Rev. Fr. Prof. Anthony Alaba Akinwale, and Pro-Chancellor, Rt. Hon. Dame Winifred Akpani, pledging continued support for their administration.
Since assuming his role as Chancellor, Otedola has been one of Augustine University’s largest private donors, funding infrastructure projects, scholarships, and student welfare initiatives.
