UNIBEN Unveils N100bn Devt Trust Fund

In an effort to boost infrastructural development, the University of Benin (UNIBEN) announced a N100 billion Trust Development Fund.

During the unveiling in Benin yesterday, Vice Chancellor Prof. Edoba Omoregie said the initiative was conceived by the university’s management and modeled after similar funds at leading global institutions.

He emphasized that the fund would help transform the university into a financially self‑sustaining institution.

Prof. Omoregie explained that the initiative is intended to address the university’s infrastructural deficits and strengthen its long‑term financial sustainability. He added that the university plans to use the fund for projects such as an ultra‑modern student hostel, a five‑star hotel with conference facilities, a sports centre and recreational hubs, and a modern abattoir with research laboratories for agriculture students.

He noted that these projects would not only improve learning conditions but also generate revenue and employment opportunities for the university and surrounding communities.

“When I took over as VC 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,” he added.

In his remarks, Chairman of the Board of Trustees of the fund, Pastor Osagie Ize‑Iyamu, described the initiative as a historic step toward repositioning the university as a globally competitive and enterprise‑driven institution.

He said the board had already begun engagements with alumni, government officials, investors and private‑sector stakeholders to secure support for the project.

Ize‑Iyamu announced that the official fundraising inauguration would take place on July 4.

He added that additional projects—including an ultra‑modern library and modern transportation systems for the university community—have also been included in the construction plans.

Similarly, the Director of ICTA at the institution, Mr. Kehinde Samuel, demonstrated the UNIBENTDF website portal.

He explained that donors and partners will be able to track projects, view the board of trustees, monitor contributions and access updates on the fund online through the portal.

He stressed that transparency and accountability will remain central to the initiative.