Femi Otedola, a Nigerian billionaire, grants ₦750 million in scholarships to help fund college students.
To help the students of Augustine University in Nigeria, Nigerian billionaire Femi Otedola has awarded scholarships totaling 750 million naira.
Femi Otedola is a philanthropist and businessman from Nigeria. In addition, he currently serves as executive chairman of Geregu Power PLC and was previously chairman of Forte Oil PLC.
At Augustine University’s commencement event in Lagos, Nigeria, he was recently sworn in as chancellor. He posted images of himself receiving recognition at the ceremony along with the accomplishment to his Instagram.
As part of his pledge to support every organization he is associated with, Femi gave one million dollars to each university student to help them in light of the dire economic circumstances facing the nation.
I was sworn in as Augustine University’s chancellor today. I firmly think that organizations with which I am affiliated should be transformed. Thus, in honor of my appointment and in understanding of our nation’s dire economic circumstances,” Otedola stated.
I presented each of the seven hundred and fifty students with a gift of one million dollars. I hope that this seven hundred and fifty million naira donation would help our students’ parents during this trying period. F.Ote$,” he continued.
The scholarship grant will benefit about 750 students overall, as the university has about 500 returning students and 250 new first-year students.
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Speaking about Otedola’s appointment, Nicholas Obayi, the institution’s spokesperson, stated that Otedola’s charitable contributions to the university and Nigeria in general made the appointment well-deserved.
In addition, Otedola founded Zenon Petroleum and Gas Ltd. and is the owner of several other companies in the shipping, real estate, and financial sectors.
