Ile-Ife, Osun State – April 2, 2026 – Obafemi Awolowo University (OAU) today hosted the inauguration of the N150 Million MicCom Memorial Endowment Fund for Engineering Development, a visionary initiative established in honor of the late Engr. Michael Ayantunde Ponnle, FNSE, OON, OFR, and late Engr. (Mrs.) Comfort Olufunke Ponnle, FNSE.

N150 Million MicCom Memorial Endowment Fund Inaugurated At OAU By Henryrich Ojo

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The event, held at the Oduduwa Hall, saw prominent figures including the Executive Governor of Osun State, Senator Ademola Jackson Nurudeen Adeleke, and the Vice-Chancellor of OAU, Professor Simeon Bamire, deliver addresses highlighting the profound significance of the endowment.

A Legacy of Innovation and Service, the endowment is a purposeful commitment to the future of engineering, innovation, and technological advancement in Nigeria, seeking to immortalize the remarkable legacy of the Ponnles. As founders of Nigeria’s first indigenous cable manufacturing enterprise, they demonstrated exceptional vision and a deep belief in Nigeria’s intellectual capital and entrepreneurial capability.

Their contributions extended beyond business, as they mentored young professionals, promoted indigenous engineering capacity, and invested in initiatives strengthening Nigeria’s technological ecosystem.

Governor Adeleke Commends Visionary Initiative In his address, Governor Ademola Jackson Nurudeen Adeleke lauded the Ponnle family for their thoughtful and visionary initiative.

He emphasized that the N150 Million endowment is not merely symbolic but strategic, addressing four critical imperatives for national development:

1.Promoting academic excellence: By supporting bright and deserving engineering students.

2.Strengthening research and innovation: Recognizing that national development is tied to the depth of knowledge systems.

3.Bridging the gap between theory and practice: Encouraging alignment between academia and industry.

4.Instilling leadership and ethical responsibility: Ensuring engineers are skilled, guided by integrity, and possess a sense of national duty.

Governor Adeleke assured the gathering of his administration’s commitment to policies and partnership that strengthen education, support innovation, and encourage private sector participation for positive developments in Osun State. He concluded by stating that the lives of Engr. Michael Ayantunde Ponnle and Engr. (Mrs.) Comfort Olufunke Ponnle remind us that greatness is built through vision, discipline, and impact, and their legacy lives on through this endowment.

OAU Vice-Chancellor Highlights Endowment’s Impact Professor Simeon Bamire, Vice-Chancellor of Obafemi Awolowo University, underscored the endowment’s role in fostering academic excellence, innovation, integrity, resilience, and a relentless pursuit of impact among
OAU engineers. He highlighted that the 150 Million MicCom Memorial Endowment Fund represents a visionary investment in engineering education and innovation.

This fund will empower OAU to foster academic excellence through cutting-edge research, provide vital scholarships to deserving students, upgrade facilities, and nurture the next generation of engineers equipped to tackle Nigeria’s and Africa’s most pressing challenges in technology, infrastructure, and energy. Professor Bamire also acknowledged the MicCom family’s longstanding commitment to excellence in the Faculty of Technology, recalling their earlier generosity at the last convocation where they instituted an annual financial award in honor of Engr. (Mrs.) Comfort Olufunke Ponnle, FNSE. This award comprises One Million Naira for the Best Overall Graduating Student in the Faculty of Technology and Ten Million Naira to the Department that produced the student. Today’s larger fund magnificently builds upon that foundation, amplifying support for academic merit, departmental strength, and broader engineering development.

The Endowment’s PurposeThe endowment is designed to serve several important purposes:

•Encourage academic excellence and innovation: By providing resources to support outstanding students.

•Promote research and intellectual inquiry: Strengthening Nigeria’s capacity for engineering innovation through continuous learning and experimentation.

•Bridge the gap between academia and industry: Fostering a culture where theory and practice reinforce one another, inspired by the Ponnles’ ability to translate knowledge into practical applications.

•Inspire leadership and professional responsibility: Cultivating a generation of engineers who are technically proficient, ethically grounded, and socially responsible, through lectures, mentorship, and related initiatives.

The long-term expectation is that the endowment will create a sustainable platform that continuously supports the growth of engineering talent, with its impact extending far beyond the present moment through responsible management and continued stakeholder support. The true success of this endowment will be measured by the lives it influences, the ideas it inspires, and the innovations it enables, serving as a continuing testament to the Ponnles’ vision and dedication.

Bukola Adubi, speaking for the family, expressed hope that this initiative would inspire further collaboration between industry and academia, encourage additional philanthropic investments in education, and reinforce the importance of supporting institutions that nurture knowledge and innovation.