The Executive Chairman of Geregu Power PLC, Femi Otedola, has been inaugurated as Chancellor of Augustine University, Ilara Epe, in Eti Osa Local Government Area of Lagos State.

Shortly after his inauguration, the billionaire philanthropist announced an instant donation of One Million Naira each for the 750 students of the school.

The former Chairman of Forte Oil, Otedola said he was motivated by his strong belief in transforming any association he is associated with.

“I strongly believe in transforming establishments that I am associated with.” He said in a public statement Thursday evening.

“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”, wrote Otedola.