The Nigerian Education Loan Fund (NELFund) has announced plans to release loans to 6,004 students of The Polytechnic, Ibadan (TPI).
Dr. Aliyu Muhammad, NELFund’s Team Lead and Director of Monitoring and Evaluation, made this known on Wednesday. He spoke during a sensitisation programme held at the institution.
According to him, more than 300 tertiary institutions are involved in the scheme. So far, over three million applications have been received on the NELFund portal.
He explained that the team visited the school to reassure students. “We saw the school’s memo about your fees,” he said. “In the next two weeks, your tuition will be credited directly to the school’s account.”
He added that students would also receive a monthly stipend of N20,000.
Muhammad urged students to remain in school, focus on their studies, and complete their education. He stressed that no student should drop out due to financial challenges.
Furthermore, he revealed that NELFund had opened a job portal. This platform will help loan beneficiaries secure automatic employment after graduation.
Also speaking at the event, SERVICOM Director Sola Fowobaje praised the initiative. He said children from poor backgrounds now have access to quality education.
“This initiative, introduced by President Bola Tinubu, promotes equal opportunity,” he said. “It’s funded from a fraction of taxpayers’ money.”
Fowobaje emphasized that financial issues should no longer stop students from completing their education. “NELFund is here to stay,” he added. “Millions have already benefited, and many more will.”
In his remarks, Acting Rector of TPI, Dr. Taiwo Lasisi, clarified the institution’s role. He said the school had always been transparent about the loan process.
He confirmed that students who already paid their fees would be refunded after the school receives NELFund disbursements.
