Nigerian billionaire Femi Otedola has pledged N3.7 billion for the construction of a new building for the Engineering Faculty at Augustine University, Ilara Epe.

The announcement was made during the university’s 6th convocation ceremony, where Otedola, also the Chancellor, expressed his commitment to developing a world-class engineering program.

In addition to the new building, Otedola has previously supported the first phase of the faculty and committed N140 million for furnishings, along with N110 million for campus infrastructure improvements. He emphasized the importance of providing cutting-edge facilities for students.

Furthermore, Otedola announced a scholarship initiative totaling N750 million for the 2023/2024 academic session, benefiting 500 returning and 250 first-year students. This gesture highlights his dedication to enhancing educational opportunities in Nigeria.