Business mogul and philanthropist, Mr. Femi Otedola, has donated N4 billion towards the completion of the Faculty of Engineering building at Augustine University, Ilara-Epe, Lagos State.
Otedola, who serves as the Chancellor of Augustine University, made the announcement during the institution’s 7th Convocation Ceremony held on Thursday, October 30, 2025.
The donation forms part of his renewed commitment to the university’s infrastructural growth and his long-standing support for faith-based education in Nigeria.
Project cost
In his address, Otedola disclosed that the construction of the Electrical and Electronics Engineering block had suffered delays, with costs escalating due to inflation and rising material prices.
“In respect of the buildings for the Faculty of Engineering of our University. I notice that the first phase, named after my mother, Dame Doja Otedola, has been put to good use.
“It is true that the construction of the Electrical Electronics Engineering block has suffered significant delay,” he said.
“I wish at this junction to re-pledge my commitment to the Proprietor of the University and the University community to build this block whose current construction cost, including furnishing, has escalated to almost N4 billion due to inflation,” he added.
Otedola presents N500 million cheque
During the ceremony, Otedola announced the signing of the contract for the project and presented a N500 million cheque to the contractor handling the construction.
“I hereby announce that I have brought with me a cheque of N500 million, which I hereby present to the contractor. Based on the time schedule of the contract, it is hoped that the construction of the building will be completed by the time of our University’s 2026 convocation,” he said.
He confirmed that the contract had already been signed earlier that morning, further demonstrating his commitment to the project.
More details
The convocation ceremony also marked Augustine University’s 10th anniversary, themed “AUI @ 10: Fulfilling the Mandate of Providing Integral University Education for a Borderless World.”
Otedola described the milestone as evidence of the university’s steady progress and dedication to moral and intellectual excellence. He praised the institution for providing holistic education that prepares students to thrive globally while maintaining strong ethical foundations.
Otedola commended other benefactors for their contributions to the university’s development. He acknowledged Chief Bakare for his support in the construction of the Faculty of Law and Senator Daisy Danjuma for her scholarship to 24 students.
He also congratulated Rev. Fr. Professor Anthony Alaba Akinwale, who recently assumed office as the 3rd substantive Vice-Chancellor, and Rt. Hon. Dame Winifred Akpani, inaugurated as the 2nd Pro-Chancellor and Chairman of the Governing Council.
Otedola further expressed gratitude to the Proprietor of the University, His Grace, Most Rev. Dr. Alfred Adewale Martins, and to the founding Visioner, His Eminence, Anthony Cardinal Olubunmi Okogie, for their leadership and dedication to the institution’s mission.
