NELFUND Impact Undeniable as VC Hails Tinubu, Secures N32m for Students Intervention.
The Acting Vice Chancellor of the Federal University of Technology, Ilaro (formerly Federal Polytechnic, Ilaro), Dr. Mikhail Akinde, has lauded President Bola Tinubu over the establishment of the Nigerian Education Loan Fund (NELFUND), describing its impact on students as “undeniable.”
Speaking during a media engagement and exhibition of fabricated machines on Monday, Dr. Akinde revealed that the institution has received an initial disbursement of about N32 million from the scheme, which has directly benefited 233 students.
The event was part of the activities leading up to the institution’s 23rd convocation scheduled for Wednesday.
The Vice Chancellor noted that the financial intervention arrived at a critical moment for many students who were on the verge of abandoning their academic pursuits due to severe financial constraints.
“I can tell you that NELFUND is actually impacting the lives of students. In the exams we were about to conclude, many students would have been denied the opportunity to sit for them. We captured the names of those already registered under NELFUND, and they were able to write their exams.
“We are really grateful for the thoughtfulness of President Tinubu. It shows how genuinely concerned he is about ensuring that no Nigerian is denied access to higher education. ,” Akinde explained.
Beyond praising the student loan initiative, Dr. Akinde used the occasion to call for robust partnerships with local and international investors.
He emphasized the institution’s capacity to mass-produce machinery fabricated by its staff and students; a move he believes is essential to reducing Nigeria’s capital flight linked to the importation of equipment for small and medium-scale enterprises (SMEs).
As the institution transitions from a polytechnic into a university, Akinde reiterated its commitment to prioritizing technical education to bridge the nation’s technological gap and generate employment.
“Our challenge, however, revolves around getting investors who could partner with us for the mass production of several of these machines. We are using this medium to seek investors to join forces with us in deploying technology to create wealth for the nation,” he added.
The exhibition highlighted the practical ingenuity of the university’s researchers, featuring prototypes such as solar- and battery-powered tricycles, PET bottle shredders, palm oil digesters, incubators, and maize dehuskers. Dr. S.A. Odunlami, the Director of Research and Development, described the displayed projects as a true reflection of technical competence and innovative problem-solving that holds immediate societal impact.
During the upcoming convocation ceremony, the university is set to honor several distinguished figures for their contributions to national development, including Ogun State Governor Prince Dapo Abiodun; Katsina State Governor Dr. Dikko Radda, who will deliver the convocation lecture; the Olubadan of Ibadan, Oba Rasheed Ladoja; and the Alake of Egbaland, Oba Adedotun Gbadebo.
