Felix Omoh-Asun in Benin
In an effort to drive Infrastructural development, the University of Benin (UNIBEN) has unveiled a N100 billion Trust Development Fund.
The Vice Chancellor (VC) of the institution, Prof. Edoba Omoregie, during the unveiling in Benin yesterday, said the initiative was conceived by the institution’s management and modeled after similar ones in leading global institutions.
He stressed the fund will transform the institution into a financially self-sustaining university.
He explained the initiative was designed to address infrastructural deficit and strengthen the university’s long-term financial sustainability, adding the university planned to use the fund for the construction of projects, including the construction of an ultra-modern students’ hostel, a five-star hotel with conference facilities, sports centre and recreational hubs, as well as a modern abattoir with research laboratories for agriculture students.
Prof. Omoregie noted the projects would not only improve learning conditions, but also generate revenue and employment opportunities for the institution and surrounding communities.
”When I took over as VC over a year ago, I went round the university and noticed the dilapidated hostels students lived in.
“We also inherited a huge electricity debt. However, we have a vision for this university and we want it to be self-sustaining going forward.
”That is why we are inaugurating the first-of-its-kind N100 billion fundraising initiative for the infrastructural development of this institution,” he said.
In his remarks, Chairman of the Board of Trustees of the fund, Pastor Osagie Ize-Iyamu, described the initiative as a historic step towards repositioning the university as a globally competitive and enterprise-driven institution.
He said the board had already begun engagements with alumni, government officials, investors and private sector stakeholders to secure support for the project.
Ize-Iyamu said the official fundraising inauguration would be held on July 4.
He added that additional projects including an ultra-modern library and modern transportation systems for the university community have been included in among projects planned for construction.
Similarly, the Director of ICTA in the institution, Mr. Kehinde Samuel, demonstrated the UNIBENTDF website portal.
He explained that donors and partners would be able to track projects, view the board of trustees, monitor contributions and access updates on the fund online through the website portal.
He stressed that transparency and accountability would remain central to the initiative.
