In an unprecedented move, Nigerian billionaire investor and major shareholder and Chairman of Geregu Power, and director of FBN Holdings Plc, Femi Otedola, has extended his philanthropic arm by donating a generous sum of N1 million to each of the 750 students of Augustine University.
The newly inaugurated Chancellor of Augustine University announced the scholarship donation to each student enrolled in the institution for the 2023/2024 academic session, including new and returning students.
The total sum of the scholarship donation amounts to N750 million (Seven Hundred and Fifty Million Naira).
The announcement was made during Otedola’s acceptance speech at the university, where he outlined his vision and commitment to the educational institution and its student body.
Details of the Scholarship & donations
Otedola specified that the scholarship would benefit both returning and new first-year students.
The university has approximately 500 returning students and an estimated 250 new first-year students, making the scholarship donation applicable to around 750 students in total.
