The University of Benin (UNIBEN) is going after ₦100 billion from its alumni and private partners — and Nigeria's Education Minister says more universities should copy the idea.
Minister Tunji Alausa described the proposed UNIBEN Trust Development Fund (UNIBEN-TDF) as "bold and laudable" during a courtesy visit by the university's delegation on Thursday. He said it aligns with his earlier challenge to vice-chancellors to stop depending solely on government funding and start mobilising their own communities.
The delegation was led by the Pro-Chancellor and Chairman of the Governing Council, Professor Shuaibu Umaru. Also present were the Chairman of the Board of Trustees for the fund, Osagie Ize-Iyamu; the Vice-Chancellor, Professor Edoba Omoregie; and the university's Public Relations Officer, Benedicta Ehanire.
Ize-Iyamu told the minister that Vice-Chancellor Omoregie took his challenge seriously and ran with it. "The Vice-Chancellor, Prof. Omoregie, took on the minister's challenge to mobilise alumni and other stakeholders to support their various universities for sustainable development," he said.
"This project has the support of the University of Benin Governing Council, and your presence will be a great boost to the initiative." — Professor Shuaibu Umaru, Pro-Chancellor and Chairman of the UNIBEN Governing Council
Alausa pledged to attend the fund's official launch. He also urged the university to invite pro-chancellors and vice-chancellors from other institutions across the country to witness the rollout — a move that could spark a wave of similar fundraising drives in Nigerian universities.
The UNIBEN-TDF was officially registered as a not-for-profit, non-political body with the Corporate Affairs Commission in June 2025. Its goal is straightforward: raise money for capital projects like buildings, laboratories, and equipment, and build a financial cushion that shields the university from the chronic underfunding that plagues Nigeria's public tertiary institutions.
How the fund works
The trust fund is designed to pool resources from two main sources: UNIBEN's vast alumni network — which includes professionals, business leaders, and politicians — and corporate partners. The money will be used strictly for capital and academic projects, not for recurrent expenses like salaries. The university's Governing Council has given the initiative its full backing.
Why this matters for Nigerian universities
Nigeria's public universities have been starved of funds for decades. The government's annual budget for education has consistently fallen below the 15-20% of total spending recommended by UNESCO. As a result, many institutions rely on tuition fees and sporadic government releases, leaving them unable to maintain infrastructure or invest in research. UNIBEN's model offers an alternative: a dedicated fund that can generate steady income through investments and donations.
If successful, the ₦100 billion fund could become a template for other universities. The minister's call for other vice-chancellors to attend the launch suggests the government is keen to see this approach replicated.
What happens next
The launch date hasn't been publicly announced, but Alausa has confirmed he'll attend. The university will now need to convince its alumni — many of whom are wealthy but haven't always been eager to give — to open their wallets. The fund's Board of Trustees, chaired by Ize-Iyamu, will oversee how the money is raised and spent.
For now, UNIBEN has taken a step that many Nigerian universities talk about but few have executed at this scale. Whether the ₦100 billion target is reached — and whether the money is managed transparently — will determine if this becomes a turning point or just another ambitious announcement.