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A newly founded philanthropy established by Africa’s sixth richest man has donated N1 billion ($2.62 million) to the University of Ibadan in western Nigeria. In making the donation, the Abdul Samad Rabiu Initiative (ASRi) aims to boost the university’s infrastructural development.
The ASRi was founded by the BUA Group, a conglomerate owned by Abdul Samad Rabiu, to spearhead educational and infrastructural projects across Africa.
On April 22, BUA Group Government Relations Director Aliyu Idi Hong donated the funds on behalf of Rabiu and the ASRi to the state-run university, The Cable reported. Hong was appointed as the director in February.
The Cable also mentioned that the school’s Acting Vice Chancellor Adebola Ekanola received the donation with gratitude on behalf of the institution, stating that the funds will improve the university’s capacity.
“This is an important intervention for the University of Ibadan,” he said. “It will meet some of our most pressing needs, which will also impact our capacity to achieve the core objectives of the University of Ibadan.”
The donation follows the ASRi’s N1-billion donation for infrastructural development to Ahmadu Bello University in Kaduna State, as reported earlier by Proshare.
When making the donation to Ahmadu Bello University, Rabiu named the University of Ibadan as one of the five leading higher educational institutions in Nigeria that will each receive N1 billion ($2.62 million) from the ASRi. The other institutions include the University of Nigeria (Nsukka), University of Maiduguri, University of Ilorin and University of Benin.
The ASRi
The ASRi is a $100-million Africa fund endowment initiative launched in March. The aim is to provide annual support to Nigerians, Africans and various governments in the Sub-Saharan region in infrastructure and capacity development.
Through the ASRi, Rabiu will extend his philanthropy to the education, health and social development sectors in Africa. It specially dedicates $50 million to Nigeria and $50 million to the rest of Africa.
