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Students to Begin Receiving NELFUND Loans Next Week, Says Managing Director

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File: NELFUND Managing Director Akintunde Sawyerr

 

Students across tertiary institutions who have successfully applied for the Federal Government’s loan scheme will soon start receiving credit alerts, beginning next week, announced the Nigerian Education Loan Fund (NELFUND).

In an interview on Channels Television’s Politics Today, monitored by Mega Icon Magazine, NELFUND Managing Director Akintunde Sawyerr disclosed, “The people who are going to first receive alerts as early as next week are the people who are about to start a new session in the institution they are in.”

Sawyerr clarified that other successful applicants will receive their credit alerts once the academic sessions commence in their respective institutions.

The Managing Director’s comments came shortly after the launch of the Nigerian Education Loan Fund (NELFUND) by President Bola Tinubu at the State House in Abuja. Sawyerr reported that out of 170,000 applicants from universities, polytechnics, and colleges of education, 110,000 have completed the necessary processes.

He detailed that there are two categories of beneficiaries: institutions receiving payments on behalf of successful applicants and the students themselves, who will receive a monthly stipend.

“A formal launch of the disbursement circle played out at the State House on Wednesday,” Sawyerr confirmed.

Highlighting the program’s objectives, Sawyerr emphasized its role in nurturing future leadership and enhancing Nigeria’s socio-economic landscape.

He further stated, “To be precise, about 110,000 students have successfully applied. They’ve put in their applications and verified as being bona fide and eligible applicants. But we’ll still carry out further verification to make sure they are well-qualified to receive these loans. But over 110,000 are likely to begin to receive disbursement from next week.”

Regarding eligibility requirements, Sawyerr outlined that applicants must possess Joint Admissions and Matriculation Board (JAMB) numbers, matric numbers, Bank Verification Numbers (BVN), and National Identification Numbers (NIN), among other criteria.

“The current exposure to students is about N35 billion. We’ve got much more than that sitting in our accounts that we can disburse, and we’ve also got some funding on the way. Remember, we are getting 1% of Federal Inland Revenue Service taxes and we also can receive funding from other sources,” Sawyerr concluded.

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Education

ADC guber candidate, Adegoke decries 674,324 out-of-school children in Oyo

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The governorship candidate of the African Democratic Congress (ADC) in Oyo State, Chief Adegboyega Adegoke, has expressed concern over the growing number of out-of-school children in the state.

Adegoke raised the concern on Monday in Ibadan, the state capital, while speaking at the inauguration of his campaign council.

He described the situation as worrisome, noting that urgent steps were needed to ensure that children of school age have access to quality education.

Mega Icon Magazine recalled that a recent report indicated that Oyo State has the highest number of out-of-school children in the South-West, with about 674,324 children between the ages of three and 17 reportedly out of school.

Adegoke said it was disturbing that the situation persisted despite the huge federal allocations accruing to the state.

He stressed the need for greater attention to education and grassroots development, saying local government autonomy would help drive human development and economic growth at the grassroots.

“Local government autonomy is a vital tool in grassroots human development and economic growth,” he said.

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Education

Tinubu Appoints Adelabu Rector, Federal Polytechnic Ayede

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President Bola Ahmed Tinubu has approved the appointment of Dr Isiaka Tunji Adelabu as the substantive Rector of the Federal Polytechnic, Ayede, Oyo State.

The appointment, which took effect on August 5, 2026, was announced by the Acting Director of the Centre for Information, Communication and Public Relations (CICPR), Sunday Adepoju, on behalf of the institution.

Adepoju, in a statement, quoted the Registrar of the polytechnic, Akinlolu Akinpade, as saying that Adelabu’s appointment was approved by President Tinubu.

Until his appointment, Adelabu was a Chief Lecturer in the Department of Accountancy at the Federal Polytechnic, Ede, Osun State, where he also served as a Chartered Accountant.

He had held several administrative positions at the institution, including Head of Department, Dean of School and Deputy Rector (Administration).

His appointment, according to the polytechnic, brings to the institution a combination of academic experience and administrative exposure considered vital to its continued development.

Akinpade said Adelabu’s track record and experience would position him to contribute meaningfully to the growth of the institution.

He urged members of the polytechnic community to extend their full support and cooperation to the new Rector as he settles into office.

The Registrar said: “The support and cooperation of the entire polytechnic community will be crucial to enabling the new Rector to advance the vision and mission of the institution.”

With the appointment, Adelabu becomes the second substantive Rector of the Federal Polytechnic, Ayede.

The management, staff and students of the institution, as well as the Governing Council, congratulated Adelabu on his appointment and wished him wisdom, strength and the capacity to provide purposeful leadership and take the polytechnic to greater heights.

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Education

MAKPOLY holds maiden Music Technology performance exam

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Michael Adeniyi Koleosho Polytechnic, Saki, Oyo State, on Wednesday recorded a major milestone with the conduct of the maiden final-year performance examination for the pioneer student of its Department of Music Technology, marking a new chapter in the institution’s commitment to practical and creative education.

The examination, held at the TETFund Building of the School of Business and Communication Studies, featured Master Okegbola Moses Bright, the department’s first National Diploma student. Lecturers, students, family members and other guests gathered at the venue to witness what many described as a historic moment for the institution.

The practical assessment was coordinated by the Acting Head of the Department, Dr. Abegunrin Adebayo Olugbenga, while two external examiners from The Polytechnic, Ibadan, Dr. Rotimi Ologududu and Dr. Abiodun Akere, evaluated the student’s performance. The Dean of the School of Business and Communication Studies, Mr. Waheed Popoola, and other senior officials of the polytechnic also attended the exercise.

Welcoming guests, Abegunrin described the occasion as a landmark in the department’s history, saying it signalled that the vision behind establishing the programme was becoming a reality.

He said, “Today marks a milestone not just for our department, but for Michael Adeniyi Koleosho Polytechnic. We are witnessing the stage performance of our very first Music Technology student. This is the first of many, and it shows that the seed we planted has begun to bear fruit.”

He explained that the performance examination is a compulsory practical requirement for the award of the National Diploma in Music Technology, adding that it is designed to assess students’ creativity, technical competence and stage performance.

“Music Technology is not just about theory; it is about performance, production and impact. Our pioneer student is setting the standard for those who will come after him,” he added.

Congratulating the student for blazing the trail, Abegunrin urged him to perform with confidence, passion and professionalism. He also encouraged other students in the department to remain focused and committed, assuring them that they, too, would have the opportunity to showcase their talents in due course.

Speaking on the department’s future, the acting head said plans were underway to expand its studio facilities, strengthen collaboration with industry players and build a programme capable of producing graduates with the skills to thrive in the music and creative industries.

“Our goal is to make this department a hub for sound production, live performance, music business and digital creativity in Oyo State and beyond,” he said.

Abegunrin thanked the management of the polytechnic for its continued support and expressed appreciation to the Dean of the School of Business and Communication Studies, members of staff and other stakeholders for their contributions to the growth of the Department of Music Technology, saying their commitment had been instrumental to the programme’s success.

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