Billionaire businessman and philanthropist, Femi Otedola, has been inaugurated as the Chancellor of Augustine University, Ilara, a Catholic-owned institution in Lagos State, on Thursday. During the ceremony, he announced the donation of N750 million to the students of the university as a gesture of goodwill and support.
Otedola, who is the former chairman of Forte Oil PLC and the current executive chairman of Geregu Power PLC, said he strongly believes in transforming establishments that he is associated with. He said he was honored to be appointed as the Chancellor of Augustine University, which was approved by the Federal Government in 2015 and offers courses at the undergraduate and postgraduate levels.
He said he gave a gift of N1 million to each of the 750 students of the university, hoping that his donation would assist the plight of the parents of the students in this difficult time. He also urged the students to work hard and excel