UNIBEN Unveils N100bn Trust Development Fund to Upgrade Infrastructure, Research

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The University of Benin has launched a N100 billion Trust Development Fund to upgrade its infrastructure and boost research capacity. The move aligns with the Federal Ministry of Education's Nigerian Education Sector Renewal Initiative. The Trust Development Fund is a strategic platform to complement public investment, mobilise additional resources, foster innovation, strengthen partnerships and create a sustainable pathway for institutional transformation. According to Pastor Osagie Ize-Iyamu, the Chairman of the Trust Development Fund, the N100 billion launch is more than a fundraising exercise, describing it as a declaration of confidence in the university's future and the collective determination to pursue excellence without compromise. The Vice-Chancellor of the university, Prof.

Omoregie Edoba (SAN), described the launch as 'a strategic move to change the face of the university and place it on a higher pedestal in the global academic community'.

The Minister of Education, Dr Tunji Alausa, represented by the pioneer Vice-Chancellor of the National University of Science and Technology, Abuja, Prof. Joseph Ahaneku, noted that 'every investment or donation made is an investment in the future of our nation, our youth and the generations yet unborn.' He expressed optimism that together, Nigerians can build institutions that are financially resilient, academically excellent, technologically advanced and globally competitive. Prof. Ahaneku called on other universities, polytechnics, colleges of education, alumni bodies, corporate organisations, philanthropists and friends of education across Nigeria to emulate the initiative. The fund will be administered with the highest standards of transparency, accountability, integrity and responsible stewardship, according to Pastor Ize-Iyamu.

The Chief Host and Governor of Edo State, Monday Okpebholo, said the government alone cannot fund the growing needs of higher education in the country, calling on corporate organisations, distinguished alumni and individuals to contribute generously to the fund. He noted that sustainable universities are built through partnerships among government, the private sector, alumni, philanthropists, development partners and friends of the institution. The Governor called for collective support to ensure that the mission of the university's founders endures.

The Chairman of the occasion and former Minister of Works, Babatunde Fashola (SAN), an alumnus of the institution, told alumni and other donors that the fundraising exercise was their contribution towards ensuring that the mission of the university's founders endures. He noted that the university's population continues to grow, and its needs have also multiplied, making it necessary to establish a development fund to cater to the increasing demands. The former Minister said the establishment of the Trust Development Fund is a visionary initiative that deserves the support of all.

The university's Vice-Chancellor, Prof. Omoregie Edoba (SAN), assured stakeholders that all donations would be properly accounted for and transparently utilised. He described the launch as 'a strategic move to change the face of the university and place it on a higher pedestal in the global academic community.' Prof. Edoba said the fund is envisaged to address the huge funding pressures resulting from increased enrolment in the university, leading to overstretched infrastructure. He noted that the funds will also help the university tackle issues of limited research financing in the face of rapid technological advancement and transformation, among other pressing needs.

The Vice-Chancellor assured stakeholders that every donor, partner, alumnus and friend of the institution will be assured of proper accounting of their donations.

Earlier in his welcome address, Pastor Osagie Ize-Iyamu described the Trust Development Fund as a strategic platform to complement public investment, mobilise additional resources, foster innovation, strengthen partnerships and create a sustainable pathway for institutional transformation. He noted that while government support remains indispensable, the demands of 21st-century higher education require sustainable partnerships with alumni, philanthropists, corporate organisations, foundations and development partners. Pastor Ize-Iyamu said the N100 billion launch was more than a fundraising exercise, describing it as a declaration of confidence in the university's future and the collective determination to pursue excellence without compromise. He assured every donor, partner, alumnus and friend of the institution that the fund will be administered with the highest standards of transparency, accountability, integrity and responsible stewardship.

Image Description: University of Benin campus

The University of Benin has launched a N100 billion Trust Development Fund to upgrade its infrastructure and boost research capacity. The fund is aimed at addressing the huge funding pressures resulting from increased enrolment in the university, leading to overstretched infrastructure.

The fund was unveiled earlier in May, when the committee assured that individuals, institutions, alumni and friends of the university would all be involved in the fundraising initiative. According to Pastor Ize-Iyamu, the N100 billion launch is more than a fundraising exercise, describing it as a declaration of confidence in the university's future and the collective determination to pursue excellence without compromise.