The Vice-Chancellor of the University of Ibadan, Professor Kayode O. Adebowale, mni, FAS, has commended the Federal Government of Nigeria for establishing the Nigerian Education Loan Fund (NELFUND).
He gave the commendation in an opening address that he delivered during an interactive session between the Abuja NELFUND Office and students of the University of Ibadan in the University’s Trenchard Hall.
Professor Adebowale commended the Federal Government’s efforts to support students in furthering their education with ease.
The Vice-Chancellor explained that the interactive session was part of NELFUND’s outreach sensitisation programme to encourage UI students who may be hesitant to apply due to a lack of understanding of the programme.
He reiterated the ongoing challenge of funding in federal institutions and acknowledged that this loan scheme was a significant step toward alleviating students’ financial burdens.
He, therefore, encouraged the students to take advantage of the opportunity but to use it wisely.
The VC also advised students to be cautious when filling out online forms to protect their data from fraudulent individuals.
The Deputy Vice-Chancellor (Academic), Professor Aderonke Baiyeroju, in her welcome remarks, thanked the NELFUND staff for educating UI students about the loan scheme.
She stressed that many students may not realise that NELFUND is a lifeline provided by the Federal Government to ease the payment of school fees.
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The Director of Process and Compliance at NELFUND, Mr. Aliyu Aliyu Mohammed said the Fund was established in fulfilment of President Bola Ahmed Tinubu’s electioneering promises and urged students to key into the project.
The NELFUND Head of ICT, Mr. Olawale Ogunleye assured students that the loan scheme was genuine and encouraged them to explore the opportunity.
He noted that the portal for applications, which opened on May 24, 2024, remains open to all Nigerian students.
He explained that the loan is a revolving scheme, with the repayment starting two years after the completion of the NYSC scheme.
Mr. Ogunleye, while guiding the students on the application process, explained that the loan fund was established to improve literacy levels in Nigeria.
The Registrar, Mr. Ganiyu O. Saliu announced that the university would launch a “UI Student NELFUND” page for questions and answers as well as create a wallet for each student to manage the loan funds wisely.
The interactive session was hybrid, with NELFUND staff joining virtually.
Students were afforded the opportunity to ask questions.
