Billionaire businessman and philanthropist Femi Otedola has donated N4 billion to Augustine University, Ilara-Epe, Lagos State, for the construction of a new Electrical and Electronics Engineering block.
Otedola, who serves as Chancellor of the faith-based institution, announced the donation during the university’s 7th Convocation Ceremony held on Thursday, October 30, 2025.
The project represents the second phase of the Dame Doja Otedola Faculty of Engineering, named in honour of his late mother, Dame Doja Otedola.
In his address, Otedola said the project had faced delays due to inflation and the rising cost of building materials.
“It is true that the construction of the Electrical and Electronics Engineering block has suffered significant delay,” he said. “I wish at this juncture to re-pledge my commitment to the Proprietor and the University community to complete this block, whose total cost, including furnishing, has now risen to almost N4 billion due to inflation.”
The billionaire revealed that a contract for the project had been signed earlier in the day and that he had made an initial payment to the contractor.
“I have brought with me a cheque of N500 million, which I hereby present to the contractor,” Otedola said. “Based on the project schedule, it is expected that the building will be completed by the time of our university’s 2026 convocation.”
Describing the donation as both a personal tribute and a commitment to advancing higher education, Otedola added: “This marks the second phase of the Dame Doja Otedola Faculty of Engineering — a tribute to my beloved mother and to the power of education to transform lives. Nigeria’s future depends on the brilliance of its young people, and we must continue to invest in the institutions that shape them.”
The N4 billion contribution is expected to enhance the university’s engineering capacity, foster innovation, and promote technical excellence across the country.
Otedola’s Role as Chancellor
Femi Otedola was appointed Chancellor of Augustine University by the institution’s proprietors, the Catholic Archdiocese of Lagos, in April 2022.
According to official records, the appointment took effect on April 7, 2022, and was publicly unveiled in September 2022 following the completion of the tenure of the pioneer Chancellor, Very Rev. Msgr. John Aniagwu.
Otedola thus became the second Chancellor of the Catholic-owned university, which was established in 2015. Since assuming the role, he has shown sustained commitment to the university’s growth, particularly through his multi-billion-naira support for the Faculty of Engineering and other initiatives aimed at promoting quality tertiary education in Nigeria.
