Business mogul and philanthropist, Femi Otedola donated N1million each to 750 students of Augustine University, to cushion economic hardship faced by students and parents, as he was made Chancellor of the institution on Thursday, 26th October 2023, at Ilara Epe, Lagos State.
Otedola donated the money to students during his inauguration at the 5th Convocation ceremony of the university.
In a statement on his Instagram, he said;
I was officially inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with.Femi Otedola – Business mogul and philanthropist
Therefore, to commemorate my appointment and in recognition of the harsh economic situation in our country, I gave a gift of One Million to each of the Seven Hundred and Fifty Students. I hope this donation of Seven Hundred and Fifty Million Naira assists the plight of the parents of our students in this difficult time.”
Otedola emphasized his commitment to uplifting institutions he is associated with and acknowledged the challenging economic circumstances, hoping that the contribution will alleviate the financial burdens faced by the students’ families.
Story: Christy Dung