University of Ibadan Vice-Chancellor Commends Nigerian Education Loan Fund (NELFUND) Establishment

Professor Kayode O. Adebowale, mni, FAS, Vice-Chancellor of the University of Ibadan, has lauded the Nigerian government’s initiative in creating the Nigerian Education Loan Fund (NELFUND). Speaking at an interactive session held at the University’s Trenchard Hall, Professor Adebowale emphasized the importance of this financial support for students.

The session, organized by NELFUND, aimed to sensitize University of Ibadan students about the loan scheme. Professor Adebowale acknowledged the persistent funding challenges faced by federal institutions and highlighted NELFUND as a significant step toward easing students’ financial burdens.

He encouraged students to take advantage of the opportunity while exercising caution when filling out online forms to protect their data from potential fraud. Professor Aderonke Baiyeroju, Deputy Vice-Chancellor (Academic), expressed gratitude to NELFUND staff for educating students about the lifeline provided by the Federal Government to ease school fee payments.

Mr. Aliyu Aliyu Mohammed, Director of Process and Compliance at NELFUND, emphasized that the Fund’s establishment fulfilled President Bola Ahmed Tinubu’s election promises. He urged students to actively participate in the project. Mr. Olawale Ogunleye, NELFUND’s Head of ICT, assured students that the loan scheme was genuine and encouraged them to explore this opportunity. The application portal, which opened on May 24, 2024, remains accessible to all Nigerian students.

Mr. Olawale Ogunleye, Head of ICT at NELFUND, revealed crucial details about the loan scheme. He emphasized that NELFUND operates as a revolving scheme, with repayment beginning two years after completing the National Youth Service Corps (NYSC) program.

During the session, Mr. Ogunleye guided students through the application process, emphasizing the fund’s mission to enhance literacy levels across Nigeria. In a significant development, the University of Ibadan Registrar, Mr. Ganiyu O. Saliu, announced the launch of the “UI Student NELFUND” page. This platform will provide a space for students to seek answers to their questions and engage with NELFUND-related information.

Additionally, the university will create individual wallets for students to manage their loan funds wisely. The hybrid format of the session allowed NELFUND staff to participate virtually, ensuring broader access for students.

As the session concluded, students eagerly took advantage of the opportunity to ask questions, further clarifying their understanding of this essential financial support system.