Billionaire Femi Otedola donates N1m each to 750 students of Augustine University

Nigerian billionaire, Femi Otedola, in an unprecedented move, donated N1 million each to 750 students of Augustine University.

NewsWireNGR reports that the major shareholder and Chairman of Geregu Power, and director of FBN Holdings Plc, was on Thursday inaugurated as the Chancellor of the University.

Otedola in a tweet announced the donation to each student enrolled in the institution for the 2023/2024 academic session, including new and returning students.

The total sum of the scholarship donation amounts to N750 million (Seven Hundred and Fifty Million Naira).

“Today, I was inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with.

“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”.

Today, I was inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with. 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… pic.twitter.com/uaz5eVhMci

— Femi Ote$ (@realFemiOtedola) October 26, 2023