THE NIGERIAN Education Loan Fund (NELFund) has announced plans to disburse loans to 6,004 students of The Polytechnic Ibadan (TPI).
The disclosure was made by Dr. Aliyu Muhammad, Team Lead of NELFund and Director of Monitoring and Evaluation, during a sensitization program held for TPI students on Wednesday in Ibadan.
Dr. Muhammad stated that NELFund currently supports over 300 tertiary institutions, with more than three million applications received through its portal.
He assured the students that their tuition fees would be credited to the institution’s account within the next two weeks, followed by a monthly stipend of ₦20,000 per student.
“We are aware of the communication from the school management regarding your fees,” he said. “NELFund is committed to ensuring that no student abandons their education due to financial constraints. We encourage all beneficiaries to remain focused on their studies, excel in their examinations, and complete their programs.”
Additionally, Dr. Muhammad highlighted that NELFund has established a job portal to facilitate automatic employment opportunities for loan beneficiaries upon graduation.
In his remarks, Mr. Sola Fowobaje, Director of SERVICOM, emphasized the transformative impact of President Bola Tinubu’s education loan initiative, which has expanded access to higher education for students from low-income backgrounds. He described the program as a sustainable investment in Nigeria’s future, funded through taxpayer contributions.
“With this initiative, financial constraints will no longer hinder academic pursuits,” Fowobaje stated. “NELFund is fully operational, with millions of students already benefiting, and more to be accommodated in due course.”
Dr. Taiwo Lasisi, Acting Rector of TPI, reaffirmed the institution’s transparency regarding the loan process. He assured students who had already paid their tuition—whether partially or in full—that refunds would be processed once NELFund disburses the funds to the school.
The event underscored the federal government’s commitment to equitable educational opportunities and human capital development through the NELFund scheme. (NAN)
