The proprietor of Afe Babalola University, (ABUAD) Ado Ekiti, Chief Afe Babalola, says he has spent over N78 billion to develop the institution.
Babalola disclosed this on Sunday in Ado-Ekiti at a grand reception organised by the university in honour of one of its alumnus, Mr Popoola Olamide.
Olamide led a team of graduates and undergraduates selected from three private universities in Nigeria to win the “Unilever Future Leaders league" in UK.
The universities are Afe Babalola, Babcock and Samuel Ajay Crowther.
Babalola said the figure was released to him recently by the Audit and Accounting Units of the university.
He said that the figure represented what had been spent on building of structure and provision of modern academic equipment in the last six years of its establishment.
The former Pro-Chancellor of the University of Lagos said he had no regret investing such a huge sum as long as his target of building human capacity through quality education was achieved.
According to him, ABUAD is the only institution in the country that currently has what is known as, Talent Discovery Directorate.
``This is where students are made to discover their gifted areas early enough and get mentored through provision of the right type of equipment, until they are nurtured to stardom.
``The institution has also instituted “Hall of Fame” for geniuses and other gifted students who are either honoured or rewarded with cash or gift items at the end of every academic exploit,’’ he said.
He said he was proud of the latest award-winning student of the university and those before him as their achievements proved that his investment was not misplaced.
Responding, Olamide said that he, along with members of his team from Babcock and Crowther universities, first won the Unilever national contest in Lagos in October 2015.
He said that they later went ahead to win the continental edition in South Africa before winning the global edition staged in London.
Olamide, a fresh graduate of Petroleum Engineering, said that students from 30 countries across the world participated in the grand finale of the Unilever contest in London.
He said the team won the number one category award for “Authentically on Brand, Relevant to Target Audience and Talkability and Shareability".