Aliko Dangote, president of Dangote Industries Limited, has pledged to build a $550 million hostel at the Federal University of Technology, Owerri (FUTO), Imo state.
Dangote made the commitment on Saturday after commissioning the ACE-Fuels ELECTROLAB-X (Electrochemical Lab for Accelerated Breakthroughs and Exponential Energy Technologies) at the university.
“I am going to build a hostel here at a cost of 550 million dollars,” he said.
The business magnate said the project is part of efforts to improve student welfare and support education infrastructure in Nigeria.
The commissioning of the electrochemical laboratory is expected to boost research and innovation in energy technologies at the institution.
Meanwhile, Nnenna Oti, vice-chancellor of FUTO, presented Dangote with the university’s “macho man” symbol after his engagement with members of the university community.
The event was attended by staff, students and stakeholders, who commended Dangote for his continued investment in education and research.
