NELFUND: 233 FUTI students receive N32m loan, says acting VC
The Acting Vice Chancellor of Federal University of Technology, Ilaro (FUTI) (formerly Federal Polytechnic Ilaro), Dr Mikhail Akinde, yesterday described Nigerian Education Loan Fund (NELFUND) scheme as one of the
The Acting Vice Chancellor of Federal University of Technology, Ilaro (FUTI) (formerly Federal Polytechnic Ilaro), Dr Mikhail Akinde, yesterday described Nigerian Education Loan Fund (NELFUND) scheme as one of the most impactful policies of the President Bola Ahmed Tinubu-led Federal Government.
FUTI, formerly established as a polytechnic in 1979, officially transitioned to a university in May 2025 after President Bola Ahmed Tinubu gave assent to a Bill upgrading it to a full-fledged University of Technology.
Akinde, who noted that the polytechnic is undergoing a gradual transition into a full-fledged University of Technology without losing its core values of invention, innovation and fabrication, said no fewer than 233 students had benefited from the N32 million disbursed under the NELFUND student loan scheme in the current academic session.
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He spoke while addressing reporters at the Ilaro campus of the institution as part of activities marking its 23rd convocation scheduled for tomorrow.
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The Acting Vice Chancellor said the NELFUND intervention had revolutionised access to tertiary education in the country by removing financial barriers, particularly for indigent students.
He said many of the beneficiaries might have been unable to sit for their recently concluded semester examinations or even dropped out of school if not for the loan facility introduced by the President Tinubu administration.
He said Ogun State Governor Dapo Abiodun, his Katsina State counterpart, Mallam Umaru Radda, the Alake of Egbaland, Oba Adedotun Gbadebo, and the Olubadan of Ibadanland, Oba Rashidi Ladoja, would be conferred with fellowship awards during the convocation.
