Otedola Donates N4bn for Electrical/Electronics Block at Augustine University

In his fresh act of philanthropy and contribution to education infrastructure development, billionaire businessman and Chairman of First Bank Plc., Mr. Femi Otedola, has announced a N4 billion donation for the building of Electrical/Electronics Engineering block at the Augustine University, Ilara-Epe, Lagos.

Otedola, who is the Chancellor of the university, announced the capital investment and other donations at the 7th Convocation ceremony of the university in Lagos weekend.

He also announced a N10 million cash gift to a physically-challenged graduating student from the department of philosophy, Emmanuel Opeoluwa, who is on a wheelchair.

He said the completion of the building was expected by next convocation ceremony in 2026.

Recall that Otedola also donated the Engineering Faculty complex to the school, an edifice comprising four blocks, constructed at an estimated cost of N2 billion.

Speaking at the convocation ceremony, Otedola said he noticed that the first phase of the Faculty of Engineering of the University, named after his mother, Dame Doja Otedola, had been put to good use.

However, confirming that the construction of the Electrical Electronics Engineering block had suffered significant delays, he stated: “I wish to re-pledge my commitment to the proprietor of the University and the University community to build this block whose current construction cost, including furnishing, has escalated to almost N4 billion due to inflation.

“I hereby announce that I have brought with me a cheque of N500 million which I hereby present to the contractor.

” Based on the time schedule of the contract, it is hoped that the construction of the building will be completed by the time of our university’s 2026 convocation.

“The contractor and I signed the contract for the construction of the Electronics Engineering Block this morning. I hereby announce my donation to the university of the Electronics Engineering block at the cost of N4 billion,” Otedola said.

Aside from monetary donations, Otedola also announced the presentation of 1,000 copies of his internationally-acclaimed best-selling book, ‘Making It Big’, to each of the students, faculty members and management of the university.

Addressing the graduating students, he reminded them that they would face new challenges in this phase of their lives, saying “this is why I am presenting to each of you today a copy of my internationally acclaimed best-selling book, ‘Making it Big’.” 

In total I am donating 1000 copies of my book to each student of our university and all faculty members and management of the university.”

While celebrating the graduating students who received their First Degrees, Diploma Certificates, and various prizes and awards, Otedola said they had laboured diligently and persevered through challenges.

He said they had emerged not only with academic laurels but also with the values of integrity, excellence and compassion, values that defined the Augustine University experience.

“May I remind you that your journey does not end here. It begins anew, with greater responsibilities to your communities, your nation, and the world. Wherever you go, let your actions reflect the character and principles instilled in you by this great institution.

“Be global in outlook but local in impact; be courageous in conviction but humble in service. As you go out into the world, carry the values of the motto of our University Pro Scientia et Moribus be with you.

“Let your actions be guided by a commitment to excellence in all that you do, both in your personal and professional lives. Be a beacon of integrity, of kindness, and of service. Know that your education at Augustine University has prepared you to face the challenges of tomorrow with confidence and with grace.”