Chief Tunde Fanimokun, the Former Permanent Secretary of Lagos State, has officially announced the generous donation of a N3.5 billion Folayiwo Entrepreneurship Centre (FEC) to Yaba College of Technology (YABATECH). This substantial contribution is intended to enhance the study of Entrepreneurship at the esteemed institution. The project launch, dedicated to the late Chief Wahab Iyanda Folayiwo, was a central part of the activities commemorating the donor’s 80th birthday.
The groundbreaking ceremony was attended by several significant figures, including current and former principal officers of YABATECH, as well as Fanimokun’s classmates and family members. This event not only marked the day he was appointed as an executive director project by the late Chief Folawiyo, but it also coincided with his daughter’s birthday.
The impressive four-story FEC building consists of four lecture theatres with seating capacities of 320 each, one lecture theatre with seating for 500, 19 classrooms, staff offices, various spaces for vocational activities, and ample car parking facilities. Fanimokun highlighted that the primary objective of the project is to promote entrepreneurship and diversify the Nigerian economy, moving away from excessive reliance on revenues from the oil and gas industry.
During his address, Fanimokun shared personal experiences and the significant impact of late Chief Folawiyo’s mentorship in entrepreneurship and philanthropy. He underscored the pivotal role of entrepreneurship as a cornerstone for sustainable development and enduring prosperity in Nigeria, urging for visionary leadership to steer the economy diversification efforts.
Dr. Ibraheem Abdul, the Rector of YABATECH, expressed immense pride and optimism for the future of education in Nigeria, deeming the ceremony a watershed moment in the college’s history. He characterized the proposed Folawiyo Entrepreneurship Center as a dynamic hub symbolizing the college’s unwavering commitment to excellence and progress.
Abdul emphasized the importance of endowments in providing a dependable source of funding for students, departments, research, and programs. He reaffirmed the college’s steadfast dedication to furnishing the best resources, environment, and support for both students and staff.
Barister ‘Tunde Folawiyo, the son of the late Chief Wahab Iyanda Folawiyo, expressed deep gratitude for Chief Fanimokun’s achievements and his desire to honour his late father. He commended Fanimokun’s contributions to the success of the Folawiyos’ dynasty and his unwavering focus on achieving set goals. Guests and former students also acknowledged Fanimokun’s contributions in spearheading major projects and grooming the youth in entrepreneurship.
The launch of the Folayiwo Entrepreneurship Centre represents a significant investment in education and entrepreneurship, offering the promise of contributing to the development of future generations of successful entrepreneurs at YABATECH. As the project progresses, it is expected to elevate the quality of education, research, and innovation at the college, ultimately contributing to the broader community’s progress.