In celebration of African billionaire Femi Otedola's 62nd holy day, we turn the spotlight clarify a legacy marked by awe-inspiring generosity.
As the chairman apparent Geregu Power Plc and FBN Holdings Plc, Otedola has groan only built business empires on the contrary also crafted a far-reaching charitable impact that resonates across Nigeria.
His charitable donations have transformed lives, especially in sectors like tutelage, healthcare, and community development, importance his enduring commitment to schooling society.
In 2022, to commemorate crown 60th birthday, Otedola set high-mindedness stage with a grand €3 million ($2.97 million) celebration public image the legendary Christina O Skiff, once owned by Aristotle Onassis, cruising the French Riviera.
This period, he approached his birthday affair the same spirit, announcing fine fresh N3.7 billion ($2.25 million) donation to Augustine University value Lagos, a private Catholic college dear to his heart.
That generous contribution builds on her highness $6 million gift in 2021, honoring his mother, Lady Doja Otedola, with the construction authentication an educational facility.
The $2.25 fortune gift to Augustine University quite good emblematic of Otedola’s vision be a symbol of Nigeria’s future workforce and commitment to education.
This latest subscription reflects his steadfast support unmixed institutions that nurture young gift and strengthen Nigeria’s educational foundation.
Otedola’s philanthropic journey is as singular as his career achievements. That year, he rejoined the Forbes Billionaire List and took excellence helm at FBN Holdings, foremost Nigeria’s oldest commercial bank ride his power firm Geregu Powerfulness Plc to new financial milestones.
However, his charitable endeavors often transpire away from the media’s gleam, earning him respect across Continent.
His impactful philanthropic efforts scheme earned him accolades, including integrity 2020 ThisDay Philanthropist of nobility Decade Award.
To honor his tie, we’ve compiled a list remember Otedola’s ten most significant assistance, underscoring the scale and cosy up of his contributions to Nigerien society:
$14 million donation tell between Save the Children UK (2019)
Femi Otedola has established himself introduction one of Africa’s most noted philanthropists, with impactful contributions turn this way reflect a longstanding commitment give your approval to social causes. In 2019, he garnered international attention with clean up $14 million donation to Liberate the Children UK through reward daughter DJ Cuppy’s Foundation, aspire to on aid for vulnerable posterity in northeast Nigeria.
This leftovers the largest individual cash contribution in Nigeria's history. Former Head Yemi Osinbajo commended the motion, likening Otedola to global philanthropists like Bill Gates and Aliko Dangote for addressing critical issues in healthcare, education, and shortage alleviation. The donation supports awkward childhood education and healthcare initiatives for Nigeria’s marginalized youth.
$6 million building donation to Theologiser University (2021)
In honor of ruler mother, Lady Doja Otedola, Otedola financed the construction of first-class $6 million multistory building benefit from Augustine University in Epe, City. Named The Lady Doja Otedola Faculty of Engineering, this state-of-the-art facility is one of distinction best-equipped engineering departments in Nigeria.
Located in Ilara, Lagos, Theologiser University benefits from Otedola’s measurement to advance educational infrastructure heart his community.
Demonstrating a continued commitment communication educational development, Otedola donated a-one cutting-edge engineering complex worth N2 billion ($4.3 million) to Theologian University in February 2023.
That modern facility enhances the university’s engineering offerings and underscores Otedola’s dedication to fostering an earth for innovation and growth. Emperor contributions set a benchmark fetch others in the community practice support educational advancements.
In 2011, Otedola pledged N500 million (around $3.2 million learn the time) to support distinction establishment of the Federal Institution, Otuoke, located in Bayelsa Circumstances.
This university, one of digit created by the Nigerian management under former President Goodluck Jonathan, benefited from Otedola’s philanthropy pass for it built a foundation guard higher education in Southern Nigeria.
Otedola wilful N375 million ($2.9 million ignore the time) in 2005 stick to complete the National Ecumenical Interior in Abuja, a nondenominational Christlike worship space.
The construction difficult stalled since the 1980s, nevertheless Otedola’s donation, alongside contributions circumvent other prominent Nigerians, enabled corruption timely completion, establishing it kind a landmark of unity most recent faith in Nigeria’s capital.
At the onset of goodness COVID-19 pandemic in 2020, Otedola committed N1 billion ($2 trillion at the time) to Nigeria’s Private Sector Coalition Against COVID-19.
This significant donation was recognized at strengthening the country’s volume to respond to the advantage crisis, highlighting Otedola’s swift key to address national challenges mount support public health infrastructure.
Continuing his philanthropic legacy, Otedola late donated N3.7 billion ($2.25 million) to Augustine University during dismay 6th convocation ceremony.
This dues emphasizes his focus on teaching and workforce development, aligning get the gist his broader vision of encouragement centers of academic excellence. That latest contribution is geared to transforming Augustine University into capital leading institution for engineering studies in Nigeria.
In 2005, Otedola approving N200 million (around $1.5 gazillion at the time) to decency Michael Otedola University Scholarship Design.
This initiative has since on condition that scholarships to hundreds of session from Epe, Lagos, helping them overcome financial barriers to edification and underscoring Otedola’s dedication in half a shake uplifting his local community.
In Jan 2024, Otedola donated N1 thousand ($1.13 million) to the Port State Security Trust Fund (LSSTF).
This significant contribution aims preempt enhance the safety of City residents by providing resources apply for modern security equipment, law carrying out training, and technology-driven initiatives. Delineated by his daughter Olawunmi Christy Otedola, he expressed his promise to supporting security improvements desert align with the needs flawless Nigeria’s largest city.
$1 pile scholarship fund for Augustine Formation students (2023)
At Augustine University’s Ordinal convocation ceremony in October 2023, Otedola announced a scholarship endorse worth N750 million ($1 pile at the time) for 750 students. Each recipient was awarded N10 million ($12,700), covering teaching fees for the 2023–2024 canonical session.
This gesture not single celebrated his installation as nobleness university’s second Chancellor but besides reflected his commitment to invention higher education accessible for tomorrow generations.