UI Acknowledges Disbursement of Education Loans to Students
The University of Ibadan acknowledges and expresses gratitude for the disbursement of Education loan granted to students in the university.
Somadina Eleke 
In a letter, published on 4th February 2024, The vice chancellor of the University, Prof. K. O. Adebowale, commended the federal government under the leadership of President Bola Ahmed Tinubu for the significant step taken toward alleviating students' financial burden in furthering their education. He also appreciated the Nigerian Education Loan Fund (NELFUND) for the disbursement of the loan.
According to the letter, 4834 students of the university have benefited from the loan which was disbursed in three tranches.
Tranche 1 (Batch 1): 1,370 students received ₦201,114,250.00 on August 7, 2024.
Tranche 2 (Batch 1b): 69 students received ₦9,797,450.00 on September 5, 2024.
Tranche 3 (Batch 2): 3,395 students received ₦524,955,200.00 on November 6, 2024.
He also stated that the university has set up modalities for the beneficiary students to effectively utilise the loan through an e-wallet system. Also, students have been sensitized about the loan’s benefits through interactive sessions in collaboration with NELFUND and a dedicated support page on the university’s website.
He further appreciated the NELFUND operations office for their timely responses and support through the process and also expressed hope towards the disbursement of the last tranche for the current academic session.
