The University of Benin has unveiled a N100 billion Development Trust Fund aimed at addressing infrastructural challenges, improving student welfare, and transforming the institution into a financially self-sustaining university.
Key Highlights:
- UNIBEN launches N100 billion Development Trust Fund
- Initiative targets infrastructure expansion and financial sustainability
- Projects include student hostels, five-star hotel, sports centre and research facilities
- Vice Chancellor Edoba Omoregie says university inherited major infrastructure and electricity challenges
- Fundraising inauguration scheduled for July 4
- Board of Trustees engaging alumni, investors and private sector stakeholders
- UNIBEN promises transparency through dedicated online monitoring portal
Speaking during the unveiling ceremony in Benin City on Wednesday, the Vice Chancellor, Edoba Omoregie, said the initiative was conceived by the university management and modelled after development funding systems used by leading global universities.
According to him, the fund is designed to address long-standing infrastructural decay while strengthening the institution’s long-term financial stability.
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Omoregie disclosed that the university plans to channel the fund into major capital projects, including the construction of modern student hostels, a five-star hotel with conference facilities, sports and recreational centres, and an abattoir equipped with research laboratories for agriculture students.
He explained that beyond improving the learning environment, the projects are expected to generate employment opportunities and create additional revenue streams for the university and surrounding communities.
“When I took over as vice chancellor over a year ago, I went round the university and noticed the dilapidated hostels students lived in,” he said.
“We also inherited a huge electricity debt. However, we have a vision for this university and we want it to be self-sustaining going forward.
“That is why we are inaugurating the first-of-its-kind N100 billion fundraising initiative for the infrastructural development of this institution,” Omoregie added.
Chairman of the Board of Trustees of the fund, Osagie Ize-Iyamu, described the initiative as a historic move towards repositioning UNIBEN as a globally competitive and enterprise-driven institution.
He revealed that the board had already commenced discussions with alumni, government officials, investors and private sector stakeholders to mobilise support for the ambitious development agenda.
Ize-Iyamu further announced that the official fundraising inauguration ceremony would take place on July 4.
He added that other proposed projects under the development plan include a modern library and an improved transportation system for students and staff within the university community.
Meanwhile, the Director of ICTA at the institution, Kehinde Samuel, demonstrated the UNIBEN Development Trust Fund online portal, which will allow donors and stakeholders to monitor projects, track contributions and access updates in real time.
Samuel stressed that accountability and transparency would remain central to the management of the fund.
The unveiling comes amid growing concerns over inadequate infrastructure, funding shortages and declining facilities in many Nigerian public universities.
