Otedola Donates N4bn for Engineering Block at Augustine University, Gifts N10m to Physically-Challenged Graduand

LAGOS — Billionaire businessman and Chairman of First Bank Plc, Mr. Femi Otedola, has announced a ₦4 billion donation for the construction of a new Electrical and Electronics Engineering Block at Augustine University, Ilara-Epe, Lagos State.

The announcement came during the university’s seventh convocation ceremony, where Otedola, who was recently installed as the institution’s second Chancellor, also made a ₦10 million cash donation to Emmanuel Opeoluwa, a physically challenged graduand from the Department of Philosophy.

Otedola revealed that the new engineering block, which will further expand the university’s academic infrastructure, is expected to be completed before the next convocation ceremony in 2026.

“The contractor and I signed the contract for the construction of the Electronics Engineering Block this morning. I hereby announce my donation of ₦4 billion for this project,” Otedola stated.

A long-standing benefactor of the institution, Otedola had earlier donated a Faculty of Engineering Complex, comprising four blocks, at an estimated cost of ₦2 billion. The first phase, completed at ₦670 million, was inaugurated in February 2023.

In October 2023, during the university’s fifth convocation, he also donated ₦750 million to 750 students—both returning and fresh—covering their tuition fees for the 2023/2024 academic session.

His latest contribution further cements his reputation as one of Nigeria’s foremost private supporters of higher education development and youth empowerment.