In addition to the students’ scholarships, Mr Otedola also announced further contributions to the university.
Otedola being decorated by officials of Augustine University, Lagos State, on Thursday.The N750 million scholarship donation according to Mr Otedola is in commemoration of his appointment as the Chancellor of the university and “in recognition of the harsh economic situation” in Nigeria.
“I hope this donation assists the plight of the parents of our students in this difficult time,” he said. This philanthropic act by the billionaire is aimed at alleviating the economic burden on families, as Nigeria’s inflation hit 26.72 per cent in September and the food inflation rate in the same month rose to 30.64 per cent.In addition to the student scholarships, Mr Otedola also announced further contributions to Augustine University.
“I made the pledge as I have always been committed to the development and economic empowerment of our youth through quality education,” he said.
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