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Folorunsho Alakija's $23 million Hospital Donation to UniOsun is a Lesson in Philanthropy for Rich Nigerians


This week, the newly completed 250-bed hospital worth over N34 billion ($23 million USD) donated by the richest African woman, Mrs. Folorunsho Alakija and her family, was opened. This is perhaps the largest single donation by any individual to any academic institution in Nigeria by far... We need more such donations by rich and well-meaning Nigerians with deep pockets. She has set the pace for other rich Nigerians like Dangote, Otedola, Elumelu, Wigwe family, and AbduSama Rabiu (Bua Foods& Cement) to emulate. It is not enough to be counted among the richest people in a country... We see examples of rich people in other climes donating their life's worth to support development... Rockefeller continues to live on; Bill and Melinda Gates have achieved so much in their lifetime with billions of dollars in donations to address health and poverty issues. Warren Buffett has donated most of his wealth to support societal causes...

Rich people gain more respect from the people who made them rich by giving back in large sums. Academic institutions in the U.S. thrive on donations from affluent people in society. If you go to UCDavis in California, US, you will see the footprint of the Mondavi family - they have donated hundreds of millions of dollars to support growth across the campus... If you come to my University in Kentucky, you will see the names of the Gatton, Pigman, and Young families across campus with donations of buildings and research facilities... There are over 20 small and big facility projects going on concurrently at my academic institution, mostly funded by private donations. Harvard has over $50 billion in endowments (donations from rich and ordinary past students and lovers of excellent education)... it is the same story across academic institutions in the US...

I hope many rich Nigerians (Africans) will learn a lesson from this generous donation... I hope Mrs. Alakija and her family will not stop here but will continue to replicate this across academic institutions in Nigeria... On behalf of the people of Osun and Nigeria, I say thank you, ma.

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