Olubadan backs student loan scheme, pledges mobilisation across Oyo State

The Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, has commended the Nigerian Education Loan Fund (NELFUND) for what he described as a laudable intervention aimed at easing the financial burden on parents and expanding access to tertiary education for Nigerian students.

The monarch gave the commendation on Wednesday while receiving the management team of NELFUND during a sensitisation visit to the Olubadan Palace in Ibadan, where he also pledged to mobilise students across Ibadan and Oyo State to take advantage of the scheme.

Oba Ladoja praised President Bola Ahmed Tinubu for initiating the programme, describing it as a timely intervention that would benefit families struggling with education costs.

He declared that the palace would support awareness efforts by setting up a sensitisation centre or working with existing CBT centres to guide applicants, adding that a wider media campaign would also be launched across the state.

“First of all, we appreciate what President Bola Ahmed Tinubu is doing regarding this because it is laudable. We thank NELFUND for the sensitisation,” the monarch said.

“We are happy to be associated with you because you are lifting a burden from a lot of parents. We will ensure students take advantage of this so we won’t be left behind in the scheme of good things.”

Responding, the Executive Director of Finance and Administration of NELFUND, Dr Femi Fred Akinfala, who represented the Managing Director, Mr Akintunde Sawyerr, said Oyo State currently leads the South-West in applications and disbursement under the scheme.

He disclosed that the state had recorded 84,276 applications worth N18.77 billion, with 75,800 students already benefiting, while over N57 billion had been disbursed across the South-West for tuition and upkeep allowances.