Ekiti Varsity VC Hails NELFUND, Calls Scheme a Major Boost for Education

The Vice-Chancellor of the Federal University of Technology and Environmental Sciences, Iyin-Ekiti, Prof. Olugbenga Aribisala, has described the Nigerian Education Loan Fund as one of the greatest developments to have happened to university education in Nigeria. Aribisala made the remark while speaking during the institution’s maiden press conference ahead of the 2025/2026 academic session in Iyin-Ekiti, Ekiti State. According to the Vice-Chancellor, NELFUND has provided an important financial lifeline for students, particularly those from financially disadvantaged backgrounds who may otherwise struggle to remain in school. He disclosed that 445 students of the newly established university applied for the NELFUND intervention, while 416 of the applicants had so far benefited from the scheme. The figure represents about 93 per cent of the university’s applicants, highlighting what the Vice-Chancellor described as the significant reach of the Federal Government’s student financing initiative. Aribisala commended President Bola Tinubu for introducing the scheme, noting that it had created an opportunity for children from low-income families to pursue university education without being prevented by financial difficulties. “To me, one of the greatest things to have happened to university education in Nigeria is NELFUND,” the Vice-Chancellor said, according to reports. He added that the intervention was particularly important because it enabled students who might otherwise be unable to afford university education to remain in school. The Vice-Chancellor’s comments come amid growing discussions about the impact of NELFUND on access to tertiary education across Nigeria. The student loan scheme, introduced by the Federal Government, provides financial assistance to eligible students for tuition and other approved educational expenses. The initiative is designed to reduce the financial barriers that have historically prevented many Nigerians from accessing or completing tertiary education. Recent figures also indicate the growing scale of the programme. NELFUND has reported that more than N206bn had been paid to institutions and students within its first two years, with the scheme benefiting students across universities, polytechnics and colleges of education. The intervention has, however, not been without challenges. Some universities have faced delays in processing refunds for students who had already paid their tuition before NELFUND subsequently settled their fees. EKSU, for instance, said its refund process was being handled in batches and attributed some delays to verification issues. Despite such challenges, Aribisala maintained that NELFUND represents a major step towards making higher education more accessible to Nigerians. His comments reinforce calls for the continued strengthening of the programme so that more students, especially those from less privileged backgrounds, can benefit from the opportunity to pursue higher education without financial hardship.