Akure: The Vice Chancellor of the Federal University of Technology Akure (FUTA), Prof. Adenike Oladiji, has attributed the limited uptake of the Nigerian Education Loan Fund (NELFUND) to students’ poor disposition toward the initiative, even as 3,000 FUTA students successfully accessed the zero-interest loan.
It’s recalled that the Federal Government introduced NELFUND to cater to the financial needs of students in tertiary institutions across the country.
Oladiji stated this on Friday at the institution during a news conference to herald the 36th convocation of the university.
She stated that no fewer than 3,000 students of the university were benefiting from the scheme, saying that the government was indeed willing to disburse funds to students, but there was low interest in it.
“The level of awareness by the students is relatively low. We are trying to raise their awareness of it. Then, many people believe that they should not attend school on credit.
“So many people do not want to take the loan. So, if the number is not huge, it’s not necessary because the government is failing; it is because many people are not applying.
“As we speak, we have over 3,000 students benefiting from the NELFUND scheme. They have reopened the portal, and we encourage students to apply.
“The level of awareness and the willingness to take on the loan is what I think has kept this number like this, not because the government is not committed to paying the students,” she said.
The VC explained that a total of 2,747 students would be awarded a first degree honour, with 240 in the First Class category, in the 2024/2025 academic session.
Oladiji added that 1,479 students are in the Second Class (Upper Division), while 912 students are in the Second Class (Lower Division), and 116 students are in the Third Class category.
According to her, Mr Aduragbemi Akindunbi from the Department of Civil Engineering is the overall best graduating student with a Cumulative Grade Point Average of 4.98.
The vice chancellor also said that 867 students would be honoured with postgraduate certificates.
She noted that the awards of first degree would be given to the students on Friday, accompanied by a convocation lecture, while postgraduate students would receive their awards on Saturday.
Oladiji, who commended the institution’s staff and partners for their contributions to the university’s growth, stated that FUTA has witnessed tremendous achievements in the last three years of her leadership.
“FUTA has always been celebrated as Nigeria’s premier University of Technology.