The University of Benin, UNIBEN, on Saturday launched its N100 billion Trust Development Fund, TDF 2026, attracting billions of naira in cash donations and project commitments from alumni, corporate organisations and development partners.
The fund, unveiled in Benin, is designed to mobilise sustainable financing for critical infrastructure, research, innovation, digital transformation, entrepreneurship and other strategic projects to position the university among globally competitive institutions.
The Minister of Education, Dr. Tunji Alausa, described the initiative as a bold response to funding challenges in Nigerian higher education. He was represented by Prof. Joseph Ahaneku, Vice-Chancellor of the National University of Science and Technology, Abuja.
“The future sustainability and global competitiveness of our tertiary institutions will increasingly depend on stronger alumni engagement, strategic partnerships and private sector participation,” Alausa said. “This bold initiative sends a powerful message that Nigerian universities are prepared to take leadership and embrace innovative models of institutional development.”
Chairman of the occasion and alumnus, Mr. Babatunde Fashola, SAN, said the launch was a defining moment for the university and called on alumni to take responsibility for preserving its legacy. “The founders have done their job. The alumni now take responsibility,” the former Lagos governor said.
Fashola disclosed that support had begun before the event, with an alumna donating N10 million on Saturday morning. He urged alumni to contribute generously, drawing applause when he said, “If this university gave you a good spouse, dig very deep.”
Vice-Chancellor of UNIBEN, Prof. Edoba Omoregie, said the fund was established to provide accelerated and sustainable development as rising enrolment puts pressure on facilities. He noted that government funding alone can no longer meet public universities’ needs.
“The N100 billion target may appear ambitious, but when we consider the importance of the projects, it becomes a shared responsibility,” Omoregie said. “We have produced over 350,000 graduates. If just 250,000 donate N100,000 each, we would realise N25 billion.” He assured that the fund would be managed transparently.
The Minister of Regional Development, Mr. Abubakar Momoh, an alumnus, said the future of higher education requires collaboration between government, alumni and the private sector. Chairman of the Board of Trustees, Pastor Osagie Ize-Iyamu, described the launch as “a declaration of confidence in the university’s future.”
Representing Gov. Monday Okpebholo, Chief of Staff Mr. Yakubu Musa reaffirmed the state government’s support for institutions promoting learning and innovation. The event attracted prominent alumni, officials and business leaders, with donations running into millions of naira and project pledges worth billions.
