Nigerian University Launches First Alumni Trust Fund

The University of Benin (UNIBEN) just took a bold step toward educational independence by creating Nigeria's first university trust development fund.

On Monday, the governing council inaugurated the UNIBEN Trust Development Fund, a groundbreaking initiative designed to reduce dependence on shrinking government budgets. Pro-Chancellor Shuaib Umaru called it a "historic milestone" that could transform how Nigerian universities survive and thrive.

Vice-Chancellor Edoba Omoregie, himself a UNIBEN graduate, explained why this matters. "Government alone cannot bear the burden of public university education," he said. With government funding declining and student needs rising, universities needed a new approach.

The fund was modeled after the Campaign for Oxford Trust at the University of Oxford. It's designed differently from typical endowment funds that cover routine maintenance. This initiative aims bigger, focusing on capital projects, research sponsorship, student scholarships, and infrastructure development that will last forever.

The fund was officially incorporated as a non-profit, non-political organization in June 2025. An alumni-based Board of Trustees, led by chairman Osagie Ize-Iyamu, will oversee operations and ensure donations go directly to building the university's future.

Omoregie emphasized that the university is building a comprehensive alumni database to reconnect with graduates worldwide. "We are calling on all alumni nationwide and across the world to support this initiative," Umaru urged, stressing that collective action would strengthen infrastructure, expand research capabilities, and support students who can't afford fees.

The Ripple Effect

This isn't just about one university finding money. Nigeria's Minister of Education has already endorsed alternative funding models, suggesting other institutions may follow UNIBEN's lead. If successful, this trust fund could become the blueprint for how African universities achieve financial sustainability without compromising accessibility.

The initiative directly addresses a crisis facing public universities across the continent: how to maintain quality education when government resources can't keep pace with growing student populations. By tapping into the success of alumni networks, UNIBEN is pioneering a model that honors both educational accessibility and institutional excellence.

Registrar Ademola Bobola noted that board members were carefully selected for their integrity, expertise, and commitment to institutional growth. The university isn't just asking for money; it's building a community of invested stakeholders who want to see their alma mater thrive.

One university just showed Africa a path forward where education remains public, accessible, and excellent all at once.