The University of Benin (UNIBEN) has officially launched a ₦100 billion Trust Development Fund aimed at improving infrastructure, enhancing teaching and learning, expanding research capacity and driving the institution’s long-term development.
The initiative was unveiled on Saturday during a fundraising event attended by government officials, alumni, corporate leaders and other stakeholders.
Speaking as the Special Guest of Honour, the Minister of Education, Dr. Tunji Alausa, said the initiative aligns with the Federal Ministry of Education’s Nigerian Education Sector Renewal Initiative, which is focused on transforming the country’s education system through innovation, strategic partnerships, stronger governance, quality assurance, digital transformation, wider access and sustainable financing.
The minister, who was represented by the pioneer Vice-Chancellor of the National University of Science and Technology, Abuja, Prof. Joseph Ahaneku, described contributions to the fund as investments in Nigeria’s future.
He said, “Every investment or donation made is an investment in the future of our nation, our youth and the generations yet unborn.”
Alausa expressed confidence that through collective efforts, Nigerian universities could become financially sustainable, academically outstanding, technologically advanced and globally competitive.
He also encouraged other universities, polytechnics, colleges of education, alumni associations, corporate organisations, philanthropists and education supporters across the country to adopt similar initiatives.
Chairman of the occasion and former Minister of Works, Babatunde Fashola (SAN), said the growing student population at the University of Benin has significantly increased the institution’s financial and infrastructural needs, making the establishment of the development fund both timely and necessary.
Fashola, an alumnus of the university, urged fellow graduates and donors to view their contributions as a way of preserving and advancing the vision of the institution’s founders.
Edo State Governor Monday Okpebholo, who served as Chief Host, noted that governments alone could no longer shoulder the rising cost of higher education and appealed to corporate organisations, distinguished alumni and well-meaning individuals to support the initiative.
According to him, “Sustainable universities are built through partnerships among government, the private sector, alumni, philanthropists, development partners and friends of the institution.”
He added, “The establishment of this Trust Development Fund is therefore a visionary initiative that deserves the support of all. Every investment made today is an investment in knowledge, innovation, national development and future generations.”
Earlier, Chairman of the Trust Development Fund, Pastor Osagie Ize-Iyamu, described the initiative as a strategic platform designed to complement government funding by attracting additional resources, promoting innovation, strengthening partnerships and creating a sustainable pathway for institutional transformation.
He explained that while government funding remains essential, the demands of modern higher education require stronger collaboration with alumni, philanthropists, corporate organisations, foundations and development partners.
Ize-Iyamu said the launch of the ₦100 billion fund represented more than a fundraising campaign, describing it as a demonstration of confidence in the university’s future and its commitment to academic excellence.
He stated, “Through this fund, we will strengthen teaching and learning, expand research capacity, modernise infrastructure, advance digital transformation, promote entrepreneurship, support innovation, enrich the student experience and position the university among globally competitive institutions.”
He further assured donors and partners that the fund would be managed with transparency and accountability.
According to him, “We assure every donor, partner, alumnus and friend of this great institution that the fund will be administered with the highest standards of transparency, accountability, integrity and responsible stewardship.”
Vice-Chancellor of the University of Benin, Prof. Omoregie Edoba (SAN), described the initiative as a landmark step towards repositioning the institution on the global academic stage.
He said, “The fund is envisaged to address the huge funding pressures resulting from increased enrolment in our university, leading to overstretched infrastructure. It will also help the university tackle issues of limited research financing in the face of rapid technological advancement and transformation, among other pressing needs.”
Edoba also assured stakeholders that every donation received would be properly documented and transparently utilised.
The Trust Development Fund was first unveiled in May, when the organising committee announced plans to engage individuals, alumni, institutions and friends of the university in raising resources to support the institution’s future development.
