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From Taiwo Oluwadare, Ibadan
Chancellor of Augustine University, Ilara-Epe, Lagos State, Mr Femi Otedola, has pledged an additional N2.85 billion towards the completion of the institution’s Faculty of Engineering project, reaffirming his commitment to delivering the facility by June 30, 2027, despite rising construction costs.
The billionaire businessman disclosed that the cost of the Phase II Engineering Block had increased to N4.35 billion, out of which he had already disbursed N1.5 billion to the contractor handling the project, leaving an outstanding balance of N2.85 billion, which he pledged to provide in the coming months.
Otedola, who made the commitment at the university’s eighth convocation ceremony on Thursday, was represented by the Group Managing Director of First HoldCo Plc, Mr Adebowale Oyedeji.
“Despite the escalated cost of the project, let me state emphatically that I am still committed to its sponsorship and completion,” he declared.
The chancellor said his continued investment in Augustine University was informed by his conviction that education remained one of the most effective instruments for transforming individuals, families, communities and nations, stressing that properly funded and managed Nigerian universities could deliver internationally competitive education without compromising academic standards.
He maintained that access to quality education could enable young people to overcome limitations, develop their potential and contribute meaningfully to national development.
Otedola challenged the graduating students to approach the increasingly competitive global employment market with confidence, reminding them that they would be competing not only with fellow Nigerians but also with graduates from institutions across the world.
He urged them not to regard their Nigerian background as a disadvantage, arguing that their experiences had equipped them with resilience, resourcefulness and problem-solving abilities that could prove valuable in their professional careers.
The chancellor encouraged the graduates to explore opportunities in international postgraduate programmes, multinational organisations and entrepreneurship, stressing that competence, character and performance should ultimately distinguish them rather than the age or reputation of their alma mater.
He also appealed to parents and guardians to sustain their support for their children beyond graduation by offering guidance, helping them access opportunities and encouraging them to create new opportunities where none existed.
Otedola commended individuals and families who had contributed to the development of the institution, particularly Chief Stephen Oluwalogbon Bakare, for his support towards the construction of the Faculty of Law building.
He also acknowledged Senator Daisy Danjuma for her annual scholarship scheme benefiting 24 students and the Casmic Maduafokwa family for its longstanding scholarship programme for deserving undergraduates.
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Meanwhile, the university graduated 194 students at the ceremony, with 24 earning First Class Honours.
Vice-Chancellor of the institution, Rev. Fr. Prof. Anthony Alaba Akinwale, OP, STM, disclosed that 88 graduates obtained Second Class Upper Division, 73 earned Second Class Lower Division, eight graduated with Third Class Honours, while one student obtained a pass.
Miss Cecilia Isedoa Okojie of the Department of Economics emerged as the overall best graduating student and valedictorian, recording a Cumulative Grade Point Average (CGPA) of 4.90.
Addressing the graduates, Akinwale urged them to contribute to the development of Nigeria rather than surrender to pessimism about the country’s future, describing the nation as one endowed with enormous human and natural resources.
He maintained that Nigeria was not a tragedy but a country whose considerable potential required the moral and political will to harness its resources for the benefit of its citizens.
The vice-chancellor said education should equip young people not merely to pursue personal success but also to transform society and help build a nation where citizens could realise their aspirations.
Similarly, the university’s proprietor and Archbishop of the Metropolitan See of Lagos, Most Rev. Dr Alfred Adewale Martins, disclosed that Augustine University had recently been ranked the best Catholic university in Nigeria.
He attributed the recognition to the dedication of academic and administrative personnel, the commitment of students and the contributions of benefactors and other stakeholders to the institution’s development.
Martins charged the graduates to uphold integrity, humility, discipline and service in their personal and professional lives, warning them against compromising their values in pursuit of material success or career advancement.
He explained that the institution’s Catholic educational tradition placed equal emphasis on academic excellence and moral development, in keeping with its motto, Pro Scientia et Moribus, meaning “For Learning and Character.”
The archbishop urged the graduates to deploy their knowledge and skills not only towards improving their circumstances but also towards advancing the welfare of others and contributing to the common good.
The ceremony was attended by university officials, benefactors, parents, graduating students and other dignitaries, while the Catholic Bishop of Sokoto Diocese, Most Rev. Dr Matthew Hassan Kukah, delivered the convocation lecture.
