A whopping sum of N3.5 billion to build an ultra-modern entrepreneurship Centre in honor of late chief Wahab Iyanda Folawiyo OFR, donated on Tuesday to Yaba College of Technology by the renown developmentalist, Chief Tunde Fanimokun.
The legacy project had its ground breaking on the main campus of Nigeria’s first tertiary institution in commemoration of the donor’s eightieth (80th) birthday celebration, the date he was employed as executive director of the project by late chief Wahab Folawiyo and also coincided with the birthday of his daughter.
The four-story building, which is to be called Folawiyo Entrepreneurship Centre (FEC), comprises four (4) lecture theatre with seating capacities of three hundred and twenty (320) each, one (1) lecture theatre with seating capacities of five hundred (500), nineteen classrooms, offices for staff, numerous spaces for vocational activities and car parks.
At the ground breaking ceremony, Chief Tunde Fanimokun said in his address, “today’s commemorative event is specifically in honour of, Alhaji Chief (Dr.) W. I. Folawiyo OFR, CON, the founding father of Yinka Folawiyo Conglomerate.
Exactly forty Years ago, in 1985, he initiated me formally into the twin subjects of entrepreneurship and philanthropy, I joined his business empire on a platter of gold on April 9, 1985, as an Executive Director (Projects). Ever since, I have become a staunch advocate of entrepreneurship as most vital pillar for sustainable development and everlasting prosperity in Nigeria”.
He added, “I became greatly interested in this most vital subject-matter after my transition without any plan from the Lagos State Government Public Service at age forty (40) in 1985 and since then, I have become a strong advocate for the propagation and promotion of entrepreneurship at all levels, most especially, the young generations. Before then, I learnt only informally about the subject matter under the first executive governor of Lagos State, Alhaji Lateef Kayode Jakande”.
Chief Fanimokun said that diversification is the only remaining turning point for the Nigerian economy instead of excessive dependence of revenue from oil and gas as a mono-cultural economy, over dependence on importation, stagflation, youth unemployment, criminal neglect of agricultural production and conspicuous absence of visionary leadership with lack of development.
The rector, Yaba College of Technology, Dr. Engr. Ibraheem Abdul, in his address that he was filled with immense pride and optimism for the future of education in Nigeria, as the ceremony marks a groundbreaking moment in Yaba College of Technology’s history, the beginning of a new and exciting chapter.
Dr. Abdul added that the proposed Folawiyo Entrepreneurship Centre will be more than just an academic building but a vibrant hub, symbolizing the college’s commitment to excellence, progress, and nurturing future generations of successful entrepreneurs who will contribute to the nation’s development.
The son of the late chief Wahab Iyanda Folawiyo, Barister ‘Tunde Folawiyo, was full of gratitude to chief Fanimokun’s accomplishments and desire to honour his late father.
He said chief Fanimokun contributed immensely to the great height of success of the Folawiyos’ dynasty and he is a man who is always focused in achieving his set goals, stating that the family was not informed of this magnitude of his stride in honouring his father.
Barrister Folawiyo eulogized chief Fanimokun and expressed the family’s gratitude to him.
