KEY POINTS
- Otedola pledges ₦4 billion for a new engineering block.
- Project completion is targeted for the 2026 convocation.
- Augustine University strengthens technical training infrastructure.
Billionaire investor Femi Otedola has pledged ₦4 billion ($2.8 million) to construct a new electrical and electronics engineering block at Augustine University, Ilara-Epe.
The announcement came during the school’s 7th convocation and 10th-anniversary celebration, where Otedola presented a ₦500 million cheque to officially launch the project.
The new facility forms the second phase of the university’s Faculty of Engineering expansion, which had been delayed by inflation-related cost overruns. Otedola said construction is expected to conclude before the 2026 convocation.
Femi Otedola love for philanthropy grows
This latest donation continues Otedola’s pattern of large-scale educational giving. In 2024, he donated ₦3.7 billion toward the faculty’s first-phase expansion. Earlier, he offered ₦1 million each to 750 students to ease tuition burdens.
Furthermore, university officials described the incoming block as a specialist training centre, featuring renewable-energy labs, automation systems, and control modules. The structure aims to further align with national goals for grid modernisation and local manufacturing capacity.
New engineering block to boost local innovation
According to Billionaires Africa, once completed, the block will make Augustine University one of Nigeria’s few private institutions with a dedicated electronics engineering complex.
Otedola’s philanthropy strategy remains clear: focus deeply, invest heavily, and deliver fast. His tailored funding approach, which is narrow yet effective, shows how the private sector might get involved in higher education.
Femi Otedola is an entrepreneur in the power and energy business who owns a lot of generation, distribution, and commodity trading companies. His broader record of donating includes programs that help young people in Nigeria get an education and gain power.
