Minister of Education, Dr Tunji Alausa, has described the University of Benin’s (UNIBEN) newly inaugurated N100 billion Trust Development Fund as a major step towards achieving the federal government’s education reform agenda, saying the initiative was in line with the Nigerian Education Sector Renewal Initiative (NERSRI).
Speaking as the special guest of honour at the launch of the fund in Benin City at the weekend, the minister said the initiative demonstrates the kind of innovation and partnership required to reposition Nigeria’s tertiary education system for global competitiveness.
Represented by the pioneer vice-chancellor of the National University of Science and Technology, Abuja, Prof. Joseph Ahaneku, Alausa said, “This initiative aligns perfectly with the Federal Ministry of Education’s Nigerian Education Sector Renewal Initiative, NERSRI, which seeks to reposition education through innovation, strategic partnerships, improved governance, quality assurance, digital transformation, expanded access and sustainable financing.”
The minister stressed that sustainable financing has become critical to the future of higher education, noting that government alone cannot meet the growing financial demands of universities.
He said every contribution to the Trust Development Fund represents an investment in the country’s future.
“Every investment or donation made is an investment in the future of our nation, our youths and the generations yet unborn,” he said.
Alausa expressed optimism that through stronger collaboration among stakeholders, Nigerian universities would become financially resilient and internationally competitive.
“Together we can build institutions that are financially resilient, academically excellent, technologically advanced and globally competitive,” he added.
He also challenged other tertiary institutions across the country to emulate the initiative.
According to him, “I call on universities, polytechnics, colleges of education, alumni bodies, corporate organizations, philanthropies and friends of education across Nigeria to emulate this commendable initiative.”
Chairman of the occasion and former Minister of Works, Babatunde Fashola, SAN, said the Trust Development Fund became necessary because of the increasing population of the university and the corresponding pressure on infrastructure and learning facilities.
Fashola, an alumnus of UNIBEN, urged graduates and other stakeholders to support the initiative, describing their contributions as vital to preserving the vision of the institution’s founding fathers.
Also speaking, Edo State Governor Monday Okpebholo said sustainable higher education requires collaboration between government, the private sector, alumni, development partners and philanthropists.
He urged corporate organisations, distinguished alumni and public-spirited individuals to contribute generously to the fund.
“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,” the governor said.
Earlier, Chairman of the Trust Development Fund, Pastor Osagie Ize-Iyamu, described the initiative as a strategic platform designed to complement government funding while mobilising additional resources to strengthen the university.
He 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.
Ize-Iyamu explained that the fund would be deployed to strengthen teaching and learning, expand research capacity, modernise infrastructure, promote entrepreneurship and innovation, advance digital transformation and improve students’ learning experience.
He assured donors that the fund would be managed with “the highest standard of transparency, accountability, integrity and responsible stewardship.”
Vice-Chancellor of the university, Prof. Omoregie Edoba, SAN, described the launch as a strategic intervention aimed at addressing growing funding challenges facing the institution.
According to him, the initiative would help tackle overstretched infrastructure resulting from increased student enrolment, limited research financing and other emerging demands associated with rapid technological advancement.
He assured prospective donors that “whatever single money you drop will be properly accounted for and transparently utilized.”
