The University of Benin (UNIBEN) has inaugurated a Trust Development Fund described as the first of its kind in Nigeria, modelled after the Campaign for Oxford Trust of the University of Oxford in the United Kingdom, as the institution seeks to diversify its revenue base and reduce dependence on government allocations.
The Governing Council inaugurated the Board of Trustees of the fund on Monday, with Pro Chancellor and Council Chairman Shuaib Umaru describing the development as a "historic milestone" for the institution. "Today, UNIBEN has made history. The principal administration has made history. The council has made history," Mr Umaru declared, urging alumni and development partners to back the initiative. "We are calling on all alumni nationwide and across the world to support this initiative. We cannot allow any good effort to go unsupported," he said.
Vice Chancellor Prof. Edoba Omoregie explained that the fund had become essential as government funding continues to shrink in the face of rising institutional demands. "Upon my assumption as vice chancellor, I resolved to leave the university far better than I found it. As a full fledged alumnus, I must act differently to ensure the sustainability of our alma mater," he said.
Prof. Omoregie stressed that the new fund was entirely separate from the university's existing Endowment Fund, which caters to routine maintenance. "This latest initiative is fundamentally different in scope and ambition. It is the first of its kind in the country," he stated.
Incorporated as a non profit, non political body by the Corporate Affairs Commission on 19 June 2025, the UNIBEN Trust Development Fund is designed to mobilise resources from alumni and friends of the institution for capital and academic projects in perpetuity. "Government alone cannot bear the burden of public university education. There is also a limit to the charges public institutions can request," Prof. Omoregie said.
He disclosed that a comprehensive alumni database was under development to enhance engagement with the university's "illustrious assets." The fund, according to him, will identify infrastructure and academic needs, mobilise partnerships, sponsor research and mentorship programmes, and provide scholarships and welfare support for indigent students. "Under my watch, we are committed to diligently pursuing these objectives for the total transformation of the University," he pledged.
