Nigerian billionaire, Femi Otedola, has donated a 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.
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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.
“I hereby announce a scholarship donation to Each returning student of the University and Each new first year student of our University the amount of One Million Naira Each towards the 2023 / 2024 session school fees of Each student.
“I am told that there are 500 returning students and about 250 new first year students making a total Scholarship donation of N 750 Million (Seven Hundred and Fifty Million Naira). I hope this donation assists the plight of the parents of our students in this difficult time.” Otedola said.
This substantial financial aid aims to alleviate the burden on families affected by Nigeria’s challenging economic climate.
