Femi Otedola donates additional $2.8 million to Augustine University

Billionaire investor Femi Otedola has pledged ₦4 billion ($2.8 million) to build a dedicated electrical and electronics engineering block at Augustine University in Ilara-Epe. The announcement was made during the institution’s 7th convocation and 10th-anniversary celebration, where Otedola committed a ₦500 million cheque to mark the project’s formal commencement.

The new block represents the second phase of the university’s Faculty of Engineering expansion. Cost overruns linked to inflation had delayed completion. Otedola said construction is expected to finish in time for the university’s 2026 convocation.

This contribution builds on previous acts of philanthropy from Otedola to Augustine University. In 2024 he donated ₦3.7 billion for an earlier engineering-complex expansion. Before that, he awarded ₦1 million each to 750 students to ease their tuition burden.

University leadership described the incoming structure as a specialist facility. The electrical-and-electronics lab is set to house industry-grade equipment, control systems and renewable-energy teaching modules. That aligns with broader national imperatives around grid modernisation and localised manufacturing.

Should the project succeed on schedule, Augustine University will have completed a major specialist block within roughly three years—faster than many public institutions manage. Otedola’s model is clear: choose a niche (engineering infrastructure), commit large capital upfront, and deliver visibility and scale.

Femi Otedola is an energy-sector entrepreneur whose business interests span generation, distribution and commodity trading. His philanthropic profile includes major donations to education and youth-skills initiatives across Nigeria.