The two-year deal will kick in this summer and is deserved recognition of the progress Oguntibeju has made since his pro debut earlier this season - although the player himmself hasn't been 100% satified with his performances.
"It's for two years, my first professional contract and I'm very happy about it," Oguntibeju told The Offside Line. "I think I've done just about enough to earn it, really.
"I think I'm my worst critic. Most people probably think I've played well - for me, I see the smaller stuff. I'd say I've probably had one really good game, the Toulon game [in the Champions Cup]. And then I've been kind of hard on myself, because I don't think my last game [against Dragons] was the best.
"I think because it's my first [contract], I'm kind of new to this. But I'm quite grounded in terms of the people around me. I had a phone call with my mum and when I told her, we had a conversation about the money and all that. Straight away, she was already like, 'You have to save 50 per cent!'
"Money is the nice thing about it, but I'm more focused on the rugby side."
You can read the full interview on The Offside Line