The University of Benin (UNIBEN) has launched a massive ₦100 billion Trust Development Fund aimed at transforming infrastructure and improving facilities across the institution’s campuses.
The university disclosed that the fund will support major projects including the construction of a five-star hotel, ultra-modern student hostels, a world-class sports complex, and other critical infrastructure upgrades.
Speaking during the unveiling of the fund’s web portal in Benin City, Vice Chancellor Prof. Edoba Omoregie said the initiative was inspired by the long-standing funding model used by the University of Oxford to sustain development and academic excellence.
According to Omoregie, he was confronted with severe infrastructural decay and financial difficulties shortly after assuming office as vice chancellor.
He revealed that inspections of hostels and academic facilities at both the Ugbowo and Ekheuan campuses exposed the poor state of infrastructure, describing the level of deterioration as alarming after being away from the university system for several years.
The vice chancellor also disclosed that the institution previously battled serious financial challenges, including difficulties paying electricity bills, which at one point led to the university being disconnected from public power supply for about three months.
To address the situation, he said the management began exploring alternative funding channels while also introducing measures aimed at reducing waste and improving financial management.
Omoregie further announced that a Board of Trustees has already been inaugurated to oversee the development fund, with former Edo State governorship candidate Osagie Ize-Iyamu appointed as chairman.
Speaking at the event, Ize-Iyamu confirmed that the official launch of the ₦100 billion fundraising campaign is scheduled for July 4, 2026.
He expressed optimism that the ambitious target can be achieved through contributions from alumni, philanthropists, corporate organisations and other stakeholders committed to the growth of the institution.
According to him, the objective of the initiative is to create a sustainable financial structure capable of supporting teaching, research, technology, entrepreneurship, infrastructure development and human capital growth for future generations.
He stressed that modern universities require strong financial backing to remain globally competitive, adding that the vision behind the fund is to position UNIBEN as a stronger and more innovative institution in the years ahead.
