Table of Contents
Key Points
- Celebrating his 62nd birthday, Otedola’s philanthropy gains spotlight, reflecting years of impactful giving, from scholarships to healthcare and security initiatives.
- Otedola’s philanthropic legacy spans healthcare, education, and community support, marking him as a prominent figure in Nigerian philanthropy.
- His contributions include a record $14 million to Save the Children UK and $6 million to Augustine University, fostering impactful social change.
In celebration of Nigerian billionaire Femi Otedola's 62nd birthday, we turn the spotlight on a legacy marked by extraordinary generosity. As the chairman of Geregu Power Plc and FBN Holdings Plc, Otedola has not only built business empires but also crafted a far-reaching philanthropic impact that resonates across Nigeria.
His charitable donations have transformed lives, especially in sectors like education, healthcare, and community development, underscoring his enduring commitment to uplifting society.
In 2022, to commemorate his 60th birthday, Otedola set the stage with a grand €3 million ($2.97 million) celebration on the legendary Christina O Yacht, once owned by Aristotle Onassis, cruising the French Riviera.
This year, he approached his birthday with the same spirit, announcing a fresh N3.7 billion ($2.25 million) donation to Augustine University in Lagos, a private Catholic institution dear to his heart. This generous contribution builds on his $6 million gift in 2021, honoring his mother, Lady Doja Otedola, with the construction of an educational facility.
The $2.25 million gift to Augustine University is emblematic of Otedola’s vision for Nigeria’s future workforce and dedication to education. This latest donation reflects his steadfast support for institutions that nurture young talent and strengthen Nigeria’s educational foundation.
Otedola’s philanthropic journey is as remarkable as his career achievements. This year, he rejoined the Forbes Billionaire List and took the helm at FBN Holdings, leading Nigeria’s oldest commercial bank and his power firm Geregu Power Plc to new financial milestones.
However, his charitable endeavors often occur away from the media’s glare, earning him respect across Africa. His impactful philanthropic efforts have earned him accolades, including the 2020 ThisDay Philanthropist of the Decade Award.
To honor his impact, we’ve compiled a list of Otedola’s ten most significant donations, underscoring the scale and depth of his contributions to Nigerian society:
1. $14 million donation to Save the Children UK (2019)
Femi Otedola has established himself as one of Africa’s most notable philanthropists, with impactful contributions that reflect a longstanding commitment to social causes. In 2019, he garnered international attention with a $14 million donation to Save the Children UK through his daughter DJ Cuppy’s Foundation, focusing on aid for vulnerable children in northeast Nigeria. This remains the largest individual cash donation in Nigeria's history. Former Vice-President Yemi Osinbajo commended the gesture, likening Otedola to global philanthropists like Bill Gates and Aliko Dangote for addressing critical issues in healthcare, education, and poverty alleviation. The donation supports early childhood education and healthcare initiatives for Nigeria’s marginalized youth.
2. $6 million building donation to Augustine University (2021)
In honor of his mother, Lady Doja Otedola, Otedola financed the construction of a $6 million multistory building at Augustine University in Epe, Lagos. Named The Lady Doja Otedola Faculty of Engineering, this state-of-the-art facility is one of the best-equipped engineering departments in Nigeria. Located in Ilara, Lagos, Augustine University benefits from Otedola’s vision to advance educational infrastructure within his community.
3. $4.3 million engineering faculty complex for Augustine University (2023)
Demonstrating a continued commitment to educational development, Otedola donated a cutting-edge engineering complex worth N2 billion ($4.3 million) to Augustine University in February 2023. This modern facility enhances the university’s engineering offerings and underscores Otedola’s dedication to fostering an environment for innovation and growth. His contributions set a benchmark for others in the community to support educational advancements.
4. $3.2 million donation to Federal University, Otuoke (2011)
In 2011, Otedola pledged N500 million (around $3.2 million at the time) to support the establishment of the Federal University, Otuoke, located in Bayelsa State. This university, one of nine created by the Nigerian government under former President Goodluck Jonathan, benefited from Otedola’s philanthropy as it built a foundation for higher education in Southern Nigeria.
5. $2.9 million for the National Ecumenical Center, Abuja (2005)
Otedola contributed N375 million ($2.9 million at the time) in 2005 to complete the National Ecumenical Center in Abuja, a nondenominational Christian worship space. The construction had stalled since the 1980s, but Otedola’s donation, alongside contributions from other prominent Nigerians, enabled its timely completion, establishing it as a landmark of unity and faith in Nigeria’s capital.
6. $2.7 million donation for COVID-19 relief (2020)
At the onset of the COVID-19 pandemic in 2020, Otedola committed N1 billion ($2 million at the time) to Nigeria’s Private Sector Coalition Against COVID-19. This significant donation was aimed at strengthening the country’s capacity to respond to the health crisis, highlighting Otedola’s swift action to address national challenges and support public health infrastructure.
7. $2.25 million to Augustine University (2024)
Continuing his philanthropic legacy, Otedola recently donated N3.7 billion ($2.25 million) to Augustine University during its 6th convocation ceremony. This donation emphasizes his focus on education and workforce development, aligning with his broader vision of fostering centers of academic excellence. This latest contribution is geared towards transforming Augustine University into a leading institution for engineering studies in Nigeria.
8. $1.5 million for the Michael Otedola University Scholarship Scheme (2005)
In 2005, Otedola donated N200 million (around $1.5 million at the time) to the Michael Otedola University Scholarship Scheme. This initiative has since provided scholarships to hundreds of students from Epe, Lagos, helping them overcome financial barriers to education and underscoring Otedola’s dedication to uplifting his local community.
9. $1.13 million donation to Lagos State Security Trust Fund (2024)
In January 2024, Otedola donated N1 billion ($1.13 million) to the Lagos State Security Trust Fund (LSSTF). This significant contribution aims to enhance the safety of Lagos residents by providing resources for modern security equipment, law enforcement training, and technology-driven initiatives. Represented by his daughter Olawunmi Christy Otedola, he expressed his commitment to supporting security improvements that align with the needs of Nigeria’s largest city.
10. $1 million scholarship fund for Augustine University students (2023)
At Augustine University’s 5th convocation ceremony in October 2023, Otedola announced a scholarship fund worth N750 million ($1 million at the time) for 750 students. Each recipient was awarded N10 million ($12,700), covering tuition fees for the 2023–2024 academic session. This gesture not only celebrated his installation as the university’s second Chancellor but also reflected his commitment to making higher education accessible for future generations.
