In a landmark development aimed at improving access to higher education and reducing student dropout rates, the University of Ilorin (UNILORIN) has secured a massive ₦1.6 billion loan from the Nigeria Education Loan Fund (NELFUND). This funding will directly benefit 12,983 students of the institution across various academic disciplines, marking a new chapter in the university’s ongoing efforts to promote educational inclusivity and financial support for undergraduates.
The Vice-Chancellor of the University, Professor Wahab Olasupo Egbewole (SAN), made this announcement during a press briefing held on the institution’s main campus. He emphasized that the loan initiative aligns with the Federal Government’s vision to ensure that no Nigerian student is forced to abandon their education due to financial constraints.
Massive Boost for Students Across All Disciplines
According to the Vice-Chancellor, the ₦1.6 billion loan covers students from all faculties and programmes, including those pursuing medical and allied health sciences, which are typically more expensive courses. The initiative aims to cushion the financial burdens associated with tuition fees and related educational costs, allowing students to focus more on their academics rather than worrying about finances.
Prof. Egbewole described the development as “a historic moment for the university and a bold step toward making education affordable and accessible for every student, regardless of their background.”
Part of a Broader Financial Intervention Plan
In addition to the NELFUND loan, the University of Ilorin has also benefited from a ₦52.6 billion intervention fund from the Tertiary Education Trust Fund (TETFund) for the 2025 fiscal year. This funding covers 11 major areas, including:
| Area of Support | Description |
|---|---|
| Infrastructure Development | Construction and renovation of academic and administrative buildings |
| ICT and Digital Enhancement | Expansion of e-learning facilities, internet connectivity, and software upgrades |
| Academic Staff Training | Local and international capacity-building programmes |
| Entrepreneurship and Innovation | Support for student start-ups and skill development |
| Career Development Services | Enhancing employability through career counselling and placement units |
| Research Grants | Sponsorship of innovative and industry-relevant research projects |
| Laboratory Equipment | Procurement of modern equipment for teaching and research laboratories |
| Academic Publications | Support for faculty publications and journals |
| Library Upgrade | Acquisition of new books, e-resources, and digital catalogues |
| Student Support Services | Strengthening welfare and counseling services for students |
| Environmental Sustainability | Green campus projects and renewable energy initiatives |
This dual funding — from both NELFUND and TETFund — represents a strategic blend of student-focused financial assistance and institutional capacity development, ensuring that UNILORIN remains at the forefront of quality education delivery in Nigeria.
NELFUND’s Role in Expanding Educational Access
The Nigeria Education Loan Fund (NELFUND) is a flagship initiative of the Federal Government designed to provide interest-free loans to students of public tertiary institutions across the country. Its goal is to bridge the financial gap that often prevents bright and deserving students from completing their education.
Through the ₦1.6 billion facility secured by UNILORIN, eligible students will have access to funds that can cover tuition, accommodation, and other academic-related expenses. The loan programme also includes flexible repayment terms to make it easier for beneficiaries to settle their obligations after graduation, ensuring sustainability and continuity of the fund for future students.
Vice-Chancellor’s Vision: “No Student Left Behind”
Speaking during the announcement, Prof. Wahab Egbewole reiterated his administration’s commitment to fostering a learning environment where no student is left behind due to lack of financial resources. He noted that the management has prioritized transparency in the disbursement of funds and will work closely with NELFUND officials to ensure that all qualified students receive their entitlements without delay.
“This initiative is a clear demonstration of our commitment to inclusive education. We want to assure every student that the University of Ilorin remains a place where dreams can be nurtured without financial fear,” he said.
Enhancing Educational Quality and National Development
The combination of student loans and institutional support grants is expected to enhance UNILORIN’s overall academic standing and contribute significantly to national development. By empowering thousands of students financially, the institution is helping to produce a new generation of skilled graduates who can contribute meaningfully to Nigeria’s economy.
Observers have praised the university for being proactive and well-organized in accessing available funding opportunities. UNILORIN’s approach serves as a model for other Nigerian universities seeking to strengthen their support systems for students amid the rising cost of education.
A Step Toward Sustainable Higher Education Financing
The successful implementation of the NELFUND loan at UNILORIN may well mark the beginning of a new era of sustainable higher education financing in Nigeria. By combining government-backed student loans with institutional development funding, the university is effectively addressing both the financial and infrastructural challenges that often hinder academic progress.
Stakeholders believe that if replicated nationwide, this model could significantly reduce dropout rates, boost academic performance, and ensure that every willing student can attain higher education without undue hardship.
