- The Nigerian Education Loan Fund (NELFUND) has disbursed ₦32 million to the Federal University of Technology, Ilaro, enabling over 230 students to remain in school and sit for their examinations.
- The institution has unveiled a series of locally fabricated machines, including solar-powered tricycles and agricultural equipment, designed to reduce Nigeria’s reliance on imported machinery.
- Acting Vice Chancellor Dr. Mikhail Akinde is seeking private partnerships to mass-produce these inventions to drive national wealth and job creation.
The Acting Vice Chancellor of the Federal University of Technology, Ilaro (formerly Federal Polytechnic Ilaro), Dr. Mikhail Akinde, has expressed deep gratitude to President Bola Tinubu for the implementation of the Nigerian Education Loan Fund (NELFUND).
Eko Hot Blog reports that speaking during a media engagement and exhibition held on Monday, Dr. Akinde revealed that the fund has already impacted 233 students at the institution through a ₦32 million disbursement.
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According to the VC, the intervention was timely, as many beneficiaries were on the verge of missing their examinations due to financial hardships before the fund stepped in.
Dr. Akinde was emphatic in his praise for the President, describing the initiative as a testament to the administration’s genuine concern for the educational future of Nigerian youths.
He noted that the “thoughtfulness of President Tinubu” has ensured that no student at the institution is denied an education simply because they lack the means to pay.
By capturing the names of students already registered under NELFUND, the university allowed them to complete their academic requirements, effectively stopping a potential wave of dropouts.
The event, which served as a precursor to the university’s 23rd convocation scheduled for Wednesday, also featured an impressive display of technical ingenuity.
Among the projects exhibited were solar- and battery-powered tricycles, palm oil digesters, maize dehuskers, and PET bottle shredders.
Dr. Akinde emphasized that as the institution transitions from a polytechnic to a university of technology, its core mission remains bridging Nigeria’s technological gap by producing graduates with practical, market-ready skills.
Despite the successful fabrication of these prototypes, Dr. Akinde noted that the primary hurdle remains the transition from laboratory models to commercial-scale production.
He called on both local and international investors to partner with the university to mass-produce these machines. By doing so, he argues, Nigeria can significantly reduce “capital flight” and decrease its heavy dependence on imported technology for small and medium-scale enterprises.
As part of the upcoming convocation ceremonies, the institution will honor several prominent Nigerians for their contributions to national growth.
The list of honorees includes Ogun State Governor, Prince Dapo Abiodun; Katsina State Governor, Dr. Dikko Radda; the Olubadan of Ibadan, Oba Rasheed Ladoja; and the Alake of Egbaland, Oba Adedotun Gbadebo.
The VC noted that these recognitions highlight the university’s commitment to excellence and its role as a hub for both academic and societal progress.
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