The University of Benin (UNIBEN), weekend, launched a N100bn Trust Development Fund to complement government funding, strengthen teaching and learning, and expand research capacity.

 

Speaking as a special guest of honour at the launching, Minister of Education, Dr Tunji Alausa, said the initiative “aligns perfectly with the Federal Ministry of Education’s Nigerian Education Sector Renewable Initiative, NERSRI,” which, according to him, “seeks to reposition education through innovation, strategic partnerships, improved governance, quality assurance, digital transformation, expanded access and sustainable financing.”

 

The Minister, represented by Prof. Joseph Ahaneku, pioneer Vice-Chancellor, National University of Science and Technology, Abuja, while noting that every investment or donation made is an investment in the future of “our nation, our youths and the generations yet unborn,” expressed optimism that “together we can build institutions that are financially resilient, academically excellent, technologically advanced and globally competitive.”

 

He, therefore, called on other “universities, polytechnics, colleges of education, alumni bodies, corporate organizations, philanthropies and friends of education across Nigeria to emulate this commendable initiative.”

 

In his speech, Chairman of the event and former Minister of Works, Babatunde Fashola, SAN, said as the population of the university steadily grows, the needs too have multiplied hence it becomes necessary to have a development fund that would cater for the multiplying needs.

 

Fashola, who is a product of the university, told the alumni and other donors that the fundraising was, therefore, their contribution towards “ensuring that the mission of the founders endures.”

 

On his part, 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, just as he called on

corporate organisations, distinguished alumni, and public-spirited individuals to contribute generously to the Fund.

 

He added: “Sustainable universities are built through partnerships among government, the private sector, alumni, philanthropists, development partners, and friends of the institution. 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 in his welcome address, Chairman of the Trust Development Fund, Pastor Osagie Ize-Iyamu, described the UNIBEN Trust Development Fund as a strategic platform to complement public investments, mobilize additional resources, foster innovation, strengthen partnership and create sustainable pathway for institutional transformation.

 

The Chairman, who stated that “while government support remains indispensable, the demands of 21st century higher education requires sustainable partnership with alumni, philanthropists, corporate organizations, foundations and development partners,” said “the hundred billion mega launch is more than a fund-raising exercise, it is a declaration of confidence in the university’s future and our collective determination to pursue excellence without compromise.”

 

He added: “Through this fund, we will strengthen teaching and learning, expand research capacity, modernize infrastructure, advance digital transformation, promote entrepreneurship, support innovation, enrich the student experience and position the university among globally competitive institutions.

 

Ize-Iyamu, therefore, “assured every donor, partner, alumnus and friend of this great institution that the fund will be administered with the highest standard of transparency, accountability, integrity and responsible stewardship.”

 

On his part, Vice-chancellor of the university, Prof. Omoregie Edoba, SAN, also described the fund launching as a “strategic move to change the face of our university and place it in a higher pedestal of the global economy.”

 

Edoba, who stated that the “fund is envisaged to address the huge funding pressures, which are the result of increased enrollment into our university, leading to overstretched infrastructure,” expressed optimism that the fund raised would help the university to tackle issues of limited research financing, in the face of rapid technological advancement and transformations, among other pressing needs.”

 

The VC assured donors that “whatever single money you drop will be properly accounted for and transparently utilized.”