Chief Tunde Fanimokun, a seasoned administrator, technocrat, and developmental economist, made a generous donation of N3.5 billion to Yaba College of Technology to establish an entrepreneurship center in honor of the late Chief Wahab Folawiyo.
The entrepreneurship center, to be named the Folawiyo Entrepreneurship Centre (FEC), will feature four lecture theaters with 500 seating capacity each, 19 classrooms, staff offices, vocational activity spaces, and a car park.
At the groundbreaking ceremony held at the college’s main campus, Fanimokun emphasized the importance of diversifying Nigeria’s economy through entrepreneurship. He highlighted the negative impacts of the country’s overreliance on revenue from oil and gas, including youth unemployment, neglect of agriculture, and lack of visionary leadership.
Fanimokun, who recently turned 80, credited Chief Wahab Folawiyo for introducing him to entrepreneurship and philanthropy 40 years ago when he joined the late entrepreneur’s business empire as an executive director. Since then, Fanimokun has been a passionate advocate for entrepreneurship as a key driver of sustainable development and prosperity in Nigeria.
Dr. Ibraheem Abdul, the Rector of Yaba College of Technology, expressed optimism about the future of education in Nigeria and described the establishment of the Folawiyo Entrepreneurship Centre as a groundbreaking moment in the college’s history. He emphasized that the center would not only be an academic building but also a vibrant hub nurturing future generations of successful entrepreneurs.
Mr. Tunde Folawiyo, representing the Folawiyo dynasty, commended Fanimokun’s achievements and his desire to honor his late father. He expressed gratitude for the generous donation, stating that Fanimokun’s dedication and focus have contributed significantly to the success of the organization.
The Folawiyo family expressed their appreciation for the honor bestowed upon Chief Wahab Folawiyo, underscoring the significance of Fanimokun’s contribution to their legacy.
