Bello: I Funded a 540-Seater Auditorium for LASU by Selling My House, Seeking Donations

Olatunji Bello marked his 60th birthday by building a 540-seater auditorium for LASU—funded through personal sacrifice, including selling his home and rallying donations—earning praise from government officials and reaffirming his lifelong commitment to education and public service.

Olatunji Bello, Executive Vice-Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), has shared how he financed the construction of a 540-seater auditorium at Lagos State University (LASU) by selling his property and mobilizing donations from friends.

Speaking at the official unveiling of the facility at LASU’s Epe campus, Bello—who once served as Lagos State’s Secretary to the Government and as Chairman of THISDAY’s Editorial Board—said the idea began as he planned for his 60th birthday.

A Vision Born from Sacrifice

“The initial cost was intimidating,” Bello said. “I asked friends to donate instead of giving birthday gifts. One friend even converted a planned Land Cruiser gift into cash. With more donations and God’s grace, we began in 2021.”

By late 2023, however, inflation and naira depreciation nearly stalled the project. Determined to continue, Bello sold his Magodo property to fund the remaining construction.

“When costs tripled, our faith was tested, but we stayed the course. To God be the glory,” he said.

Choosing Legacy Over Lavish Celebration

Instead of throwing a grand party for his milestone birthday, Bello chose to invest in education.

“This was my way of sowing a seed in the vineyard of knowledge,” he said. “It’s about legacy—not fleeting enjoyment. I wanted to create something future generations could benefit from.”

He encouraged other private citizens to help close infrastructure gaps in public universities, stressing that government cannot do it alone.

“This auditorium is how I chose to preserve my birthday cake—by sharing it with thousands of students,” he added.

Previously, to mark his 50th birthday in 2011, Bello instituted annual academic prizes in five LASU faculties: Law, Mass Communication, Social Sciences, Engineering, and Medicine.

A Family Vision

Bello credited his wife, Professor Ibiyemi Olatunji-Bello—now Vice Chancellor of LASU—with first proposing the idea of donating a structure to the university.

“She suggested it even before she became VC. I didn’t take it seriously at first, but later realized the impact it could have,” he said.

Commendations and Official Unveiling

Minister of Education, Dr. Tunji Alausa, who chaired the event, applauded the initiative and reaffirmed President Bola Tinubu’s focus on education and human capital development.

He noted LASU is the most subscribed university via JAMB and emphasized the administration’s ongoing investment in educational infrastructure, including plans to equip all universities with independent energy sources.

Sanwo-Olu, Osoba Laud Gesture

Lagos State Governor Babajide Sanwo-Olu hailed the project as a symbol of vision and service.

“This structure is more than just a building. It’s a center of intellectual and cultural exchange,” he said. “It aligns perfectly with our THEMES+ agenda and our vision for a greater Lagos where private citizens and public institutions collaborate.”

Vice Chancellor Prof. Ibiyemi Olatunji-Bello also expressed deep appreciation, noting this marked the first time a sitting governor officially visited the Epe campus.

Former Ogun State Governor Chief Olusegun Osoba praised Bello’s commitment to public good and his enduring legacy of philanthropy.

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SOURCES: ALLSCHOOL, THISDAY