Africa’s wealthiest man has come to the rescue of an ambitious community project that was struggling to get off the ground.
Aliko Dangote has agreed to fully finance a ₦1.1 billion student hostel that will benefit both the University of Ilorin (Unilorin) and the local Islamic community.
According to report, the 250-bed ultramodern hostel was originally conceived by the Ilorin Central Jumma’at Mosque as a way to generate sustainable income for the mosque’s upkeep.
Located on the University of Ilorin campus, the facility is expected to provide quality accommodation for students while creating a steady revenue stream for the religious institution.
Alhaji Shehu AbdulGafar, secretary of the Mosque’s Board of Trustees, announced the breakthrough at a press conference in Ilorin on Sunday.
He revealed that Dangote had not only agreed to fund the entire construction but had already formalized the arrangement through a signed Memorandum of Understanding with the university.
The deal includes some interesting terms that balance community benefit with educational investment.
Under the agreement, the mosque will own and operate the hostel for 21 years, collecting rental income from students during this period.
After two decades, ownership will transfer to the University of Ilorin.
But Dangote’s generosity doesn’t stop at construction funding.
The billionaire industrialist has committed to providing ₦5 million monthly to support the mosque’s maintenance expenses until the hostel project is completed.
According to AbdulGafar, these monthly contributions began last month, showing Dangote’s immediate commitment to the cause.
The timing couldn’t be better for both parties involved.
The mosque has been searching for sustainable funding solutions for its operations, while the University of Ilorin continues to grapple with student accommodation shortages that plague many Nigerian universities.
AbdulGafar emphasized that Dangote’s intervention creates a win-win situation.
The mosque gains long-term financial security through rental income, while university students get access to quality accommodation that meets modern standards.
This latest philanthropic gesture adds to Dangote’s growing reputation for strategic charitable investments that address real community needs.
Rather than simple donations, his approach often involves creating sustainable solutions that benefit multiple stakeholders over the long term.
The project represents a creative model for addressing Nigeria’s twin challenges of inadequate student housing and sustainable funding for religious institutions.
If successful, it could inspire similar partnerships between wealthy philanthropists, educational institutions, and community organizations across the country.
