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NELFUND disbursed N174bn to over 800,000 students — MD

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The Managing Director and Chief Executive Officer of Nigerian Loan Fund, Mr Akintunde Sawyerr, has again called on Nigerian youths to maximise the benefits of the student loan to build a formidable future for themselves and help support the development drive of the country.

Sawyerr said that since the inception of the student loan in May 2024, the agency has disbursed N174bn to over 800,000 beneficiaries from about 263 tertiary institutions.

Sawyerr stated this on Tuesday during a sensitisation programme organised by the Ogun State Institute of Technology, Igbesa, in Ado-Odo/Ota Local Government area of Ogun State.

The NELFUND MD said that while N100bn was disbursed to institutions as payment for school fees, N70bn was disbursed to the students as their monthly upkeep.

He explained that the agency also receives an average of between 6,000 and 7,000 applications daily from Nigerian students who seek to benefit from the loan initiative.

Sawyerr said that it is the wish of President Bola Tinubu to ensure that no Nigerian is denied getting quality tertiary education due to lack of funds or poverty, hence the establishment of NELFUND.

He disclosed that it is therefore incumbent on the Nigerian youths who have admission into any of the government-owned tertiary institutions to apply for this loan for the payment of their school fees, which NELFUND pays directly to the school, as well as the payment of a monthly upkeep of N20,000.

He explained, “Education is one of the topmost priorities of President Bola Tinubu. The President believes that education is the greatest weapon against poverty and so he doesn’t want any Nigerian to be deprived of having a qualitative tertiary education due to financial difficulties, hence the establishment of NELFUND

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“Over 70 percent of our population is under the age of 35. If these young people take advantage of education—whether academic or vocational—we will build an educated population capable of driving development and attracting investment. That is the strongest form of sustainability we can achieve”

Giving an overview of the student loan performance since inception, Sawyer said, “As of this morning, we have disbursed ₦174 billion. Over 800,000 students have benefited so far. We have disbursed more than ₦100 billion directly to institutions and about ₦70 billion to students as upkeep—₦20,000 per month, paid every month.

“In the last 24 hours alone, we received 6,000 new applications. On average, we see between 5,000 and 7,000 applications daily. These are the key figures. So far, we have disbursed funds to about 263 institutions, universities, polytechnics, and colleges of education. These funds are paid directly into the institutions’ accounts”.

Sawyerr urged students across government-owned tertiary institutions to embrace the Federal Government’s initiative to fund their education and build a profitable future for themselves, even as they are also prepared and armed with relevant educational and vocational training that could aid them to contribute meaningfully to the growth and development of the country.

Also speaking at the event, the Rector of the Ogun State-owned ICT polytechnic, Dr Abiodun Oluseye, lauded Tinubu for his magnanimity and unprecedented investment in prioritising access to tertiary education for all Nigerians.

Oluseye said, “If you come from a poor family, or from parents who struggle to send you to school, you will understand how important this initiative is. Education cleanses society. It is through education that society heals, progresses, and moves forward.”

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He said that the polytechnic has fully embraced the student loan initiative and is committed to ensuring its success, adding that it was against this background that the sensitisation programme was held for the students to have proper information and understanding of NELFUND.

The rector revealed that over 200 students of the institution had so far benefited from the student loan while over 400 students have also applied for the scheme under the 2025/2026 academic session.

Oluseye urged the students to embrace NELFUND because it remains a pathway to secure their future.

Oba Nosiru Teslim Olayemi, the Olodan of Odan Abuja-Sule, Igbesa, represented the Olu of Ilaro and paramount ruler of Yewa land, Oba Kehinde Olugbenle, at the event, praised Tinubu for establishing NELFUND, saying that the initiative would go a long way to make life easy for both the parents and the students in the country.

Oba Olugbenle has therefore urged the students to reciprocate the thoughtfulness of the federal government and must, therefore, concentrate on their studies and shun all forms of distraction that could derail their studies.

Recall that Tinubu had, around May 2024, flagged off NELFUND to provide Nigerian students with loans to access tertiary education training.

Each beneficiary is expected to begin repayment of this loan two years after graduation and when they have started working

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Education

Zamfara varsity gets new VC

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Prof. Tukur Adamu has taken over as the fourth substantive Vice-Chancellor of the Federal University, Gusau, in Zamfara State, succeeding Prof. Mu’azu Abubakar.

The News Agency of Nigeria reports that Adamu was recently appointed as the university’s fourth substantive Vice-Chancellor.

Speaking in Gusau on Tuesday at the handing-over and taking-over ceremony, the incoming VC said he would build on the achievements of Abubakar.

“I will give priority to infrastructure, human capital, academic development, staff and students’ welfare, as well as ensure a suitable environment for teaching and learning.

“I look forward to working with all segments of the university.

“We will continue partnering with all stakeholders, especially the Zamfara Government, traditional institutions, and our host community,” he explained.

Adamu thanked President Bola Tinubu, the Federal Ministry of Education, and the university’s Governing Council for his appointment.

Also speaking, the outgoing VC, Abubakar, thanked the university community, Sabongida town, its immediate community, and all stakeholders for contributing to the various successes recorded during his tenure.

“I stand here today to hand over the affairs of this great institution to my successor.

“All the achievements recorded in this university under my administration could not have been achieved without the support of the stakeholders.

“Alhamdulillah, today, I am leaving the university in an excellent position,” he said.

He urged his successor to consolidate on university development.

Abubakar commended the university’s Governing Council for giving him the opportunity and urged the university community to give maximum support to his successor.

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In their separate remarks, the Heads of Departments, Deans of Faculties, and representatives of the Academic Staff Union of Universities (ASUU) and the Senior Staff Association of Nigerian Universities (SSANU) commended the outgoing VC for bringing tremendous achievements to the institution.

They assured the incoming VC of their support and cooperation for continued development at the university. (NAN)

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Education

Some private universities running like business centres – Ex-NOUN VC

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The pioneer Vice-Chancellor of the National Open University of Nigeria, Prof. Olugbemiro Jegede, has warned that some private universities in Nigeria are being run primarily as profit-driven ventures rather than academic institutions, a trend he said could lead to their eventual collapse.

Prof. Jegede raised the concern on Thursday in Abuja while delivering a public lecture organised by the Federal Government College, Warri, as part of activities marking the school’s 60th anniversary. His remarks come amid growing pressure on limited university spaces, as thousands of candidates prepare for the 2026 Unified Tertiary Matriculation Examination (UTME) and other admission-related exams conducted by the Joint Admissions and Matriculation Board (JAMB).

The Emeritus Professor noted that the country’s current university infrastructure is insufficient to meet the needs of Nigeria’s growing student population.

“I think we are almost getting to 200 institutions now. Given the population of Nigeria, we don’t have enough universities. Even the ones we have, their carrying capacity is very low. Many of these universities cannot take more than 1,000 or 2,000 students. Some private universities don’t have more than 500 students. Many will soon close down because of the way they are running it,” he said.

Jegede attributed the problem largely to the misconception among some proprietors that universities should generate quick profits. “Many people who set up these private tertiary institutions believe that it is a business venture. As soon as they set it up, next month they are asking, ‘Where’s the money?’”

He stressed that establishing a university requires long-term commitment and patience. “People don’t know that when you start a private university, it will take between seven and 10 years to break even. Things need to change,” he said.

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Advocating a shift toward open and distance learning, Jegede highlighted the National Open University of Nigeria as a sustainable model for expanding access to higher education. “Why establish physical schools when you can establish open universities? That’s what this country needs now,” he said.

Citing NOUN’s achievements since its establishment in 2002/2003, he said the university has produced nearly 750,000 graduates. “That’s just one university. The biggest face-to-face university in this country will not have more than 40,000 or 50,000 students. You can imagine how many conventional universities it would take to match NOUN’s output. Nigeria would need nearly 30 conventional universities to do the same,” he said.

Beyond tertiary education, Jegede expressed concern over the declining state of unity schools, particularly Federal Government Colleges (FGCs), pointing to insecurity as the biggest threat to the schools’ national integration mandate.

Echoing his concerns, Dr Godwin Alo, Global President of the FGC World Students Association, said insecurity was eroding diversity and unity within the schools. He explained that students from certain parts of the country are discouraged from enrolling due to safety concerns.

“When you say you are a unity school but security challenges are reducing diversity among students, you have to face the truth,” Alo said.

He further warned that declining enrolment from some regions threatens the survival of alumni networks. “When students from these branches don’t come to schools like Warri, those branches will die a natural death. If we need to address that, we need to tackle the root causes, such as insecurity. For any nation, once you’re not secure, you have no nation,” he stressed.

See also  FG seeks to transform polytechnics for job creation, innovation

The lecture highlighted systemic challenges in Nigeria’s educational sector, including underfunded institutions, limited capacity, and insecurity, while urging policymakers and stakeholders to adopt long-term, sustainable solutions for both higher education and secondary schools.

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Education

1,032 students gets N110,000 each from C’River lawmaker

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The Senator representing Cross River South, Senator Asuquo Ekpenyong, has empowered not fewer than 1,032 students with a cash award of N110,000 each to support their academic pursuits.

The education support programme was held in Calabar, and witnessed a large turnout of undergraduate and postgraduate students from federal and state institutions, colleges of education, health technology schools, and schools of nursing.

The programme was designed to provide N100,000 per student, but Ekpenyong announced an additional N10,000 as lunch support, bringing the total disbursement to N110,000 per beneficiary.

Ekpenyong encouraged the students to look beyond the financial assistance and draw inspiration from the broader developmental strides in Cross River State and Nigeria.

He said, “I urge all the students to look beyond the financial assistance and take their studies very seriously. Draw your inspiration from what you have seen. Most especially the developmental strides in the state.”

He highlighted the achievements of Senator Bassey Otu and Bola Ahmed Tinubu, noting that their initiatives are making a positive impact.

“The People’s First administration of Governor Bassey Otu and Renewed Hope agenda of President Bola Tinubu are steadily transforming the state and the nation”, he added.

The lawmaker reaffirmed his dedication to investing in education as a critical tool for human capital development and sustainable growth in Cross River South.

Mr Ewelu Ewelu, the Postgraduate students’ president of the University of Cross River State, expressed gratitude to the Senator, saying, “His intervention is legendary and impactful in easing the financial burden faced by students.”

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He added, “The intervention will ease the financial burden faced by students on campus. And we appreciate him for this gesture.”

Several beneficiaries also shared their appreciation for the support.

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