By: Fakeye Blessing
The Nigerian Education Loan Fund (NELFUND) has on Wednesday, May 21st 2025 disclosed that 4,809 UI students have applied for loan in this session.
This was in accordance with the statistics presented by the liason officer of the scheme in University of Ibadan, Mrs Alao, at an interactive session aimed to address students’ concerns about the scheme.
The event held at Trenchard Hall, had in attendance the deputy vice chancellor administration, Prof Peter Adepegba; the liaison officer for NELFUND in University of Ibadan, Mrs Alao, amongst other officials.
According to Mrs Alao, the scheme has verified the loan request of 4, 809 UI students in this session.
She also added that students can visit a physical help desk in the university of Ibadan.
In his welcome address, the Deputy Vice Chancellor Administration, Professor Peter Olapegba, admonished the student body on making sure that they collect the loan with the intention of paying back so as to sustain the initiative for the benefit of coming generations.
In his speech, Director for Monetary Aspect, Mr Aliu Mohammed introduced some previous beneficiaries of the scheme and encouraged students to apply for the loan, assuring those who have applied for the loan that the disbursement will commence in two weeks’ time.
“For those that have applied, they should be able to get the disbursement after 2 weeks from today”, he noted.
He emphasised that the initiative is geared towards helping indigent students to pay their school fees, in which beneficiaries are expected to pay the loan two years after the completion of the undergraduate program.
The officials also responded to several questions, including the speed of verification, the increase of upkeep amount, feedback channels, tracking loan applications among others.
