Billionaire investor Femi Otedola has pledged ₦4 billion ($2.8 million) to build a dedicated electrical and electronics engineering block at Augustine
Billionaire investor Femi Otedola has pledged ₦4 billion ($2.8 million) to build a dedicated electrical and electronics engineering block at Augustine University in Ilara-Epe.
The announcement was made during the institution’s 7th convocation and 10th-anniversary celebration, where Otedola committed a ₦500 million cheque to mark the project’s formal commencement.
The new block represents the second phase of the university’s Faculty of Engineering expansion. Cost overruns linked to inflation had delayed completion. Otedola said construction is expected to finish in time for the university’s 2026 convocation.
This contribution builds on previous acts of philanthropy from Otedola to Augustine University.
In 2024 he donated ₦3.7 billion for an earlier engineering-complex expansion. Before that, he awarded ₦1 million each to 750 students to ease their tuition burden.
