Billionaire businessman, Femi Otedola has said his N4 billion donation to Augustine University, Ilara-Epe in Lagos State was a tribute to his mother and to the power of education to transform lives.

The notable philanthropist made this known in an X post on Friday.

9news Nigeria reports that Otedola, who is the Chancellor of the university, announced the donation during its 7th Convocation Ceremony and 10th anniversary celebration on Thursday.

At the ceremony, he stated that the donation would fund the construction of a modern Electrical and Electronics Engineering block at the Catholic-owned institution.

He further stated that the new structure would complement the existing Dame Doja Otedola Faculty of Engineering, named in honour of his mother.

Taking to X, Otedola said, “As Chancellor of Augustine University, I am proud to present my ₦4 billion donation for the construction of a new Electrical and Electronics Engineering block.

“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.”