By Shaka Momodu, 03.31.2005

As a take-off, the first batch of 100 student beneficiaries smiled home with a N100, 000.00 cheque at an impressive ceremony at the Odoragusin home of Otedola.
Instituted two decades ago as a source of assistance to indigent students in the pursuit of their educational goals, the scholarship scheme suffered a setback with the founder’s foray into politics 13 years ago.
Recounting the rationale for the revival of the scheme, the scion of the Otedola family, Femi, said he was challenged to keep the vision of his father alive because of his immense contributions among the community people.
According to him, by 1992 when last the award was given, over 100 candidates had benefited from the scheme, saying today, most of them are already medical doctors, lawyers and engineers.
Femi, who is also Zenon CEO, said "as a corporate citizen of our great nation, Nigeria, we have sought to enlarge the scope of the earlier vision.
"As part of our social responsibility, we desire to contribute to the educational development and human capacity building in Nigeria.
This goal has propelled us to set a target of 1000 beneficiaries for the scholarship of which the group present today is the first batch. A sum of N200 million has been set aside to realise this laudable objective."
Also speaking, the founder described the revival of the project by his son, Femi as a fulfillment of an ambition which politics truncated as he was no longer able to continue his business.
He said the opportunity of a sound education afforded him by his uncle gave him the impetus to contnue to support the less priviledged in society.
Otedola hailed his son’s courage to resuscitate the family vision. In his remarks Lagos State Governor, Asiwaju Bola Ahmed Tinubu, described the gesture as a an onslaught against poverty, adding that the gathering rather than being a funeral service was the re-enactment of the greatness of the Otedola dynasty.
He disclosed that as part of government efforts to encourage its citizenry in obtaining a qualitative education the sum of N390 million has been set aside by his government as bursary for Lagos State indigenes in tertiary institutions across the state for the 2005 academic year.
Tinubu, while reiterating his administration's commitment to giving its citizenry, especially the less privileged qualitative education, urged individual parents to take adequate interest in the education of their children by investing heavily on the future of their children in whatever manner they could as the responsibility should not be left to the government alone. He charged the beneficiaries, the students to see the award as a challenge by justifying the kind gesture and excel in their chosen career.