A ₦150 million endowment fund aimed at advancing engineering education and innovation in Nigeria was officially inaugurated on Thursday at Obafemi Awolowo University, marking a significant investment in the country’s technological future.
The MicCom Memorial Endowment for Engineering Development, established by the Ponnle family, honours the legacy of renowned engineers Michael Ayantunde Ponnle and Comfort Olufunke Ponnle, whose contributions to Nigeria’s industrial and engineering landscape continue to resonate.
Speaking at the inauguration held at Oduduwa Hall, Governor Ademola Adeleke described the initiative as a “remarkable commitment” to future generations, noting that the honourees’ impact transcends their lifetime.
“Some lives are so impactful that even in their passing, they continue to build, to teach, and to inspire,” Adeleke said.
The late Ponnles were celebrated as pioneers of Nigeria’s indigenous manufacturing sector, having founded one of the country’s earliest cable production companies at a time when local industrial capacity was still developing.
Their work championed innovation, self-reliance, and technical excellence, while also fostering mentorship and human capital development within the engineering profession.
The newly launched endowment is designed to support outstanding engineering students, promote research and innovation, strengthen collaboration between academia and industry, and cultivate leadership grounded in integrity and service.
According to the organisers, the fund will provide scholarships, finance research initiatives, and enhance facilities within the university’s Faculty of Technology helping to position the institution as a hub for engineering excellence in Nigeria and beyond.
Governor Adeleke commended the Ponnle family for what he described as a “visionary initiative,” noting that the investment reflects a deep commitment not only to preserving a legacy but also to shaping the future.
“This endowment is not merely symbolic but strategic,” he said. “It addresses critical pillars of national development education, innovation, and ethical leadership.”
Also speaking at the event, Vice-Chancellor Simeon Bamire highlighted the long-standing relationship between the Ponnle family and the institution, referencing earlier endowments that reward academic excellence, including financial prizes for top graduating students and their departments.
He noted that the new fund significantly expands those efforts and will “empower the university to nurture the next generation of engineers equipped to tackle Nigeria’s and Africa’s most pressing challenges.”
The endowment is expected to operate as a sustainable funding platform, ensuring long-term support for engineering education through careful management and continued stakeholder engagement.
Family representative Bukola Adubi said the initiative reflects a collective commitment to honour the past while investing in the future, expressing hope that it will inspire greater collaboration between academia and industry, as well as increased philanthropic support for education.
As the ceremony concluded, speakers emphasised that the true measure of the endowment’s success will lie not only in financial support, but in the innovations, ideas, and lives it helps shape for generations to come.
Dignitaries at the programme are,
Deputy Governor Adewusi,
All the cabinets members of the state executive council
Orangun of Oke-Ila, Alada of Ada, Representative of Ooni of Ife Ooni Enitan Adeyeye Ogunwusi, and other Royal Fathers, Representative of the President Nigerian Society of Engineers, Engr. Mrs Margaret Oguntala (Former President), Mr Dele Momodu, Vice Chancellor
OAU
Prof. Adebayo Simeon Bamire and other staff of the institution.
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