Nigerian billionaire industrialist Abdul Samad Rabiu has donated N1 billion ($2.43 million) to the University of Benin.
The donation was made through his Abdul Samad Rabiu Africa Initiative (ASRi), the philanthropic arm of BUA Group, as part of its 2021 tertiary education grants scheme.
BUA Group is a Nigeria-based multibillion-dollar conglomerate founded by Rabiu, Africa’s sixth wealthiest man.
The donation makes the University of Benin the fifth university in Nigeria to receive N1 billion ($2.43 million) from ASRi after the University of Maiduguri, University of Ilorin, University of Ibadan and Ahmadu Bello University Zaria.
ASRi Managing Director Ubon Udoh said it selected the university based on metrics such as ranking, student population and gender inclusivity.
“We are impressed with the level of commitment by the Management of the University of Benin in identifying viable projects for implementation under this grant,” Udoh said.
ASRi will assess projects to be implemented using the donation prior to launch.
“Over the next few weeks, we will review these identified projects within the ASR Africa project assessment and mutual accountability frameworks and we look forward to commencing project implementation as quickly as possible,” Udoh added.
ASRi was established in March with an annual pledge of $100 million to support health, education and social development issues on the African continent. It plans to dispense $50 million to Nigeria and $50 million to the rest of Africa each year.