The Lagos State Government (LASG) in collaboration with the Otedola Foundation had set aside N1billion as local scholarships to outstanding indigent students.
Mrs Yetunde Jegede, the Executive Secretary, Lagos State Scholarship Board, told the News Agency of Nigeria (NAN) at the sideline of the test being conducted for applicants for 2015/2016 local scholarships on Wednesday in Lagos.
Jegede said that the N1billion which would be the scholarship for undergraduates was donated by the Otedola Foundation.
“This scholarship is in honour of the late Chief Michael Otedola. Though it had been on before now, the family is increasing the award.
“Mr Femi Otedola has approved the scholarship and we will spend N50 million every year on 250 students out of the fund beginning from this year ,’’ she said.
According to her, a committee has been set up to oversee how it will be disbursed.
She also said the board would soon distribute forms to interested applicants.
She added that only the less-privileged students currently studying in any tertiary institutions across the country would be qualified to apply.
“We are going to roll out more scholarships in 2016, aside from the 700 state government’s scholarships that were meant for undergraduates, Masters and PhD students.
“Through this scholarship, many students who are impecunious will have their dreams come true,” she said. (NAN)