Gifts N10m to physically-challenged graduand 
Billionaire businessman and Chairman of First Bank Plc, Mr Femi Otedola, has announced a N4 billion donation for the construction of the Electrical and Electronics Engineering Block at Augustine University, Ilara-Epe, Lagos.

Otedola, the Chancellor, announced the capital investment and other donations at the institution’s seventh convocation.

He also announced an N10 million cash gift to a physically challenged graduating student from the Department of Philosophy, Emmanuel Opeoluwa, who uses a wheelchair.

He said the completion of the building was expected by the next convocation ceremony in 2026. Otedola has been a major financial supporter of the university.

He donated the Engineering Faculty Complex to the school, an edifice comprising four blocks, constructed at an estimated cost of N2 billion.

The first phase of the building was completed at a total cost of N670 million, and the facility was inaugurated in February 2023, with operations commencing thereafter.

At the fifth convocation in October 2023, Otedola donated N750 million to 750 returning and fresh students of the university.

The money covered the students’ school fees for the 2023/2024 academic session. Otedola announced the donation yesterday in an address shortly after his installation as the university’s second chancellor.

“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 Electronics Engineering Block at a cost of N4 billion,” he said.