Davido made took to his Instagram account Monday evening to make the announcement.
Only government-approved orphanages are qualified to apply for the fund, the singer stated.
Davido raised N200million from friends and fans after asking them to send him money in a social media post on Wednesday, November 17.
He added his N50million to bring the total amount raised to N250million.
In a statement released on Saturday, November 20, the eve of his birthday, Davido said he would give all the money to orphanages across Nigeria.
