Dele Olaosebikan
THE University of Ibadan has acknowledged the Nigerian Education Loan Fund (NELFUND’s) disbursement of over Seven Hundred and Twenty-Five Million (N725,000,000.00) as loans to 4,834 students.
A letter written by the institution’s vice-chancellor, Prof. K. O. Adebowale, and addressed to the Managing Director/CEO of NELFUND dated 4 February 2025, described the loan scheme as a significant step toward alleviating students’ financial burdens in furthering their education.
While pointing out that 4,834 students of the institution are beneficiaries of the loan disbursed in 3 tranches, the VC said the institution has set up modalities for the beneficiary students to utilise the loan through an e-wallet system.
“In addition, students were further sensitised about the benefits of the funds in several fora, including an interactive session in collaboration with NELFUND and a page on the university website (https://ui.edu.ng/uinel fund-support) was dedicated for enhanced support.
“While appreciating timely responses and support from the NELFUND Operations office through the processes, we look forward to the disbursement of the last tranche for the current academic session.”
NELFUND was set up by President Bola Ahmed Tinubu administration to assist indigent students who may encounter challenges completing their university education due to a paucity of funds. It caters for students in public universities.
Eighteen-Eleven Media