Otedola, 2 Other Billionaires Who Spend the Most on Education in Nigeria

• Billionaires are concentrating on education as one of the most powerful means of bringing about long-lasting change
• Aliko Dangote and other Nigerian billionaires have helped to improve the nation's educational system
• Other Nigerian billionaires who have contributed immensely to education include Femi Otedola and Abdul Samad Rabiu

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Across the globe, billionaires are focusing on one of the most impactful ways to create lasting change through education.

Nigerian billionaires are not exempt from this, as successful business moguls such as Aliko Dangote and others have contributed to improving education in the country.

Billionaires.Africa highlights the largest donations to universities by Nigerian billionaires, highlighting a common commitment to changing educational systems and promoting an inclusive future.

Abdul Samad Rabiu - $12.3 million

In 2022, Nigerian billionaire Abdul Samad Rabiu, through his philanthropic vehicle—the Abdul Samad Rabiu Africa Initiative (ASR Africa)—donated N5.5 billion ($12.3 million) to 22 Nigerian colleges under the Tertiary Education Grants Scheme.

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Each selected institution received N250 million ($560,700) intended for infrastructural repairs and facility improvements. ASR Africa was established in April 2021 with the goal of promoting effect in the fields of social development, healthcare, and education. The organisation targets African institutions with an annual endowment of $100 million.

The program increases the number of beneficiary institutions to 30 by building on a previous round of grants. The universities that were picked after a systematic evaluation procedure are the University of Lagos, the University of Uyo, and the University of Jos. To guarantee project completion, ASR Africa is also putting accountability structures into place.

This most recent initiative demonstrates Rabiu's sustained dedication to bolstering Nigeria's educational system while using his riches to address the continent's structural development issues.

Femi Otedola - $4.3 million

Lagos State's educational infrastructure has been greatly improved by Nigerian philanthropist and billionaire Femi Otedola. He gave Augustine University in Ilara, Epe, a N2 billion ($4.3 million) engineering complex in February 2023.

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This state-of-the-art facility highlights Otedola's dedication to promoting innovation and strengthens the university's engineering disciplines. His commitment to the university's expansion was further cemented in October 2023 when he was sworn in as its chancellor.

Otedola's continued assistance sets the standard for charitable contributions to education and demonstrates his conviction in changing the organisations he works with.

Aliko Dangote - $3.2 million

The richest man in Africa, Aliko Dangote, established the Dangote Business School at Bayero University in Kano in 2018 with a donation of N1.2 billion, or roughly $3.2 million. This cutting-edge university, which has lecture halls, sophisticated auditoriums, and state-of-the-art research facilities, intends to develop business leaders in Northern Nigeria.

Dangote's dedication to promoting entrepreneurship and education in the nation is reflected in the donation. His charitable endeavors also included Ahmadu Bello University (ABU) in Zaria, where he provided N1.2 billion to build a 2,160-bed student residence complex.

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These donations highlight Dangote's continuous support of Nigeria's educational system, encouraging both academic achievement and the growth of the country's future corporate executives.

Nigerian billionaire Otedola to begin another philanthropic project

Legit.ng reported that Nigerian billionaire Femi Otedola has revealed intentions to construct staff quarters at the Lagos campus of the Nigerian Law School.

Isa Chiroma, the director general of the Nigerian Law School, disclosed the information on Tuesday, March 5, during the call-to-bar event in Abuja.

Otedola has been a significant player in Nigeria's national security and education sectors throughout the last six months.

Source: Legit.ng