No fewer than six thousand students of The Polytechnic, Ibadan will begin to receive the Nigerian Education Loan Fund (NELFUND) loan in the next two weeks.
This came to the fore during the visit by
NELFUND team to the Polytechnic on Wednesday.
The delegation, led by Mr. Aliyu Mohammed, NELFUND’s Director of Monitoring and Evaluation, was received by top management of the institution, including the Acting Rector, Dr. Taiwo Abideen Lasisi, Deputy Rector Mrs. Olaide Salawu, Registrar Mr. Bayo Oyesola, the Public Relations Officer of the school, Alhaji Soladoye Adewole, among others
Speaking during a high-level engagement with the staff and students, Mr. Aliu Mohammed explained that the visit followed a memo earlier submitted by the institution regarding the financial needs of students and their school fees structure.
According to him, the Polytechnic’s proactive engagement made it a priority for the next round of disbursements.
“We’re here to confirm that NELFUND has come to stay. In two weeks, 6,004 verified students from The Polytechnic, Ibadan, will start receiving payments,” he announced. “This money covers full tuition support and includes a N20,000 monthly stipend to support students’ welfare and ensure no one is forced to drop out.”
He emphasized that the fund is fully backed by taxpayer money, and students must take responsibility to apply in order to benefit.
“Any student who hasn’t applied is on their own,” he warned. “This initiative is here to ensure access and equity. No Nigerian student should stay out of school due to financial constraints.”
As of the visit, Mohammed revealed that 32 students had already received their funds under a pilot phase, serving as proof of the system’s credibility. He added that the loan application process will continue in batches to allow seamless onboarding and verification.
Looking to the future, Mr. Mohammed also disclosed plans to launch a dedicated job portal that will match verified loan recipients with employment opportunities after graduation. This, he explained, is part of a long-term repayment strategy, with 10% of graduates’ income being deducted once they are gainfully employed.
“We are not just giving out loans, we are building a sustainable bridge between education and employment,” he said.
In his welcome address, the Acting Rector, Dr. Taiwo Lasisi, described the initiative as a timely intervention, especially for a public institution like The Polytechnic, Ibadan, which caters to thousands of economically disadvantaged students.
“We are proud to be among the best institutions that have keyed into the NELFUND project early,” he said.
“Many students thought it was a scam, but this visit confirms that the initiative is genuine, and it’s already changing lives.”
The Deputy Rector, Mrs. Olaide Salawu, and Registrar, Mr. Oyesola, both emphasized the institution’s commitment to supporting eligible students in the application process. “We encourage all students to take this opportunity seriously,” they said jointly.
Also speaking, Director of SERVICOM, Mr. Sola Fowobaje, hailed the fund’s transparency and urged students to approach the initiative with discipline. “This visit is a turning point. It brings credibility, hope, and motivation. Students now have one less excuse to drop out,” he remarked.
Responding on behalf of the students, Comrade , President of the Students’ Union Government (SUG), Oladipipo Olamide Daniel thanked the NELFUND team for their direct engagement with students and commended the school management for facilitating the initiative.
“For a long time, we’ve struggled with tuition and upkeep, and many of us almost dropped out. But today, we’ve seen ,government presence not in theory, but in reality,” he said.
“We pledge to use these funds responsibly and prove that Nigerian students deserve this support.”
Other members of the NELFUND delegation included Akeem Lawal, Special Adviser NELFUND, Yemi Caxton, Director Client Support Services,
Representatives from other institutions—including Federal College of Animal Health and Production Technology, Moor Plantation; Oyo State School of Nursing, Eleyele, among others were also in attendance to observe the engagement process and learn best practices for implementation in their respective institutions.
NELFUND, a flagship policy of the Federal Government under the current administration, aims to provide interest-free loans to students across public tertiary institutions.
The fund covers tuition, living stipends, and educational materials, and is part of broader education reforms to improve access and equity in higher education.
