The University of Benin (UNIBEN), at the weekend, launched a N100 billion Trust Development Fund to complement government funding, strengthen teaching and learning, and expand research capacity.

Speaking as a special guest of honour at the launch, 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 the pioneer Vice-Chancellor, National University of Science and Technology, Abuja, Prof. Joseph Ahaneku, while noting that every investment or donation made is in the future of “our nation, our youths and the generations yet unborn,” expressed optimism that financially resilient institutions, academically excellent, technologically advanced and globally competitive can be built through cooperation.

He, therefore, called on other universities, polytechnics, colleges of education, alumni bodies, corporate organisations, 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, said that as the population of the university steadily grows, the needs have also multiplied; hence, it becomes necessary to have a development fund that would cater for the multiplying needs.