Businessman Femi Otedola has gifted N1 million each to 750 students of Augustine University, Ilara-Epe, Lagos State.
The businessman announced the donation on Thursday at the university’s fifth convocation ceremony where he was also inaugurated as the university’s chancellor.
Mr Otedola shared pictures on Instagram of the ceremony, noting that he hopes the donation would assist the students at this difficult time.
“Today, I was officially inaugurated as the Chancellor of Augustine University. I strongly believe in transforming establishments that I am associated with.
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“Therefore, to commemorate my appointment and in recognition of the harsh economic situation in our country, I gave a gift of One Million to each of the Seven Hundred and Fifty Students. I hope this donation of Seven Hundred and Fifty Million Naira assists the plight of the parents of our students in this difficult time,” he wrote.
Catholic Archbishop of Lagos Alfred Martins was at the convocation ceremony.
Augustine University, also known as AUI, is a private Catholic-owned University founded in 2015.
