The Acting Vice Chancellor of the Federal University of Technology, formerly Federal Polytechnic, Ilaro, Ogun State, Dr Mikhail Akinde, has declared the impact of the Nigerian Education Loan Fund, NELFUND, “undeniable,” crediting it with keeping hundreds of undergraduates in school.

Akinde revealed that the institution has so far received about N32 million from the scheme, with 233 students benefiting. According to him, the intervention arrived at a critical moment, preventing many from dropping out or missing examinations because of unpaid fees.

He explained that during the last examination period, a significant number of students risked being barred over financial constraints. The university, he said, compiled the names of those already captured under NELFUND and allowed them to sit for their papers, confident that the loan support would cover their obligations.

Akinde praised President Bola Tinubu for what he described as a deliberate effort to ensure that no Nigerian is denied access to higher education on account of poverty. He argued that the scheme is already proving its value on campuses, not as an abstract policy but as a lifeline for real students facing real hardship.

Speaking during a media engagement and an exhibition of fabricated machines produced by staff and students, the acting vice chancellor linked the loan fund to a broader vision of education that is both inclusive and practical. As the institution transitions from a polytechnic to a university of technology, he said, its mission is to deepen technical education, bridge the country’s technological gap and expand employment opportunities.

On display at the exhibition were solar- and battery-powered tricycles, palm oil digesters, PET bottle shredders, maize dehuskers, defeathering machines and incubators. Akinde said these prototypes demonstrate the capacity of Nigerian institutions to design solutions for local industries, particularly small and medium-scale enterprises.

He appealed to local and foreign investors to partner with the university to mass-produce the machines, arguing that such collaboration could reduce capital flight from machinery imports and stimulate job creation.

Earlier, the Director of Research and Development, Dr S. A. Odunlami, described the exhibition as evidence of how research and innovation can tackle real-world problems, stressing that each project showcased both technical competence and a commitment to sustainable development.