Billionaire businessman Femi Otedola has reflected on the 21st anniversary of his N200 million donation to the Sir Michael Otedola Scholarship Scheme at an event chaired by President Bola Tinubu during his tenure as Governor of Lagos State.
In a post on X, Otedola shared a throwback to the 2005 Sir Michael Otedola Scholarship Scheme Award Ceremony, recalling the event as a significant milestone in his family’s commitment to education.
He explained that the scholarship scheme was established by his late father, Sir Michael Otedola, in 1987 to provide educational support for indigent but academically outstanding students in Lagos State.
Otedola noted that Tinubu, who chaired the award ceremony as governor at the time, now serves as the President of the Federal Republic of Nigeria.
He added that the N200 million donation underscored his family’s enduring commitment to investing in education and empowering future generations through academic opportunities.
‘Throwback Thursday. 21 years ago today (in 2005), the then Governor of Lagos State, @officialABAT, chaired the Sir Michael Otedola Scholarship Scheme Award Ceremony. Today, His Excellency now serves as President of the Federal Republic of Nigeria.
‘In the ceremony, I donated N200,000,000 (two hundred million naira only) to the scholarship scheme founded by my late father in 1987, continuing our family’s commitment to investing in education’, he wrote.
Otedola also noted that true riches lie in changing lives, not in accumulating wealth.
‘True wealth is not measured by what we keep, but by the lives we change,’ he added.