The Principal and Chief Executive of the Petroleum Training Institute (PTI), Effurun, Engr. Dr. Samuel E. Onoji, has encouraged students of the institute to explore the opportunities offered by the Nigerian Education Loan Fund (NELFUND) to address financial challenges and improve their academic experience.
Dr. Onoji made this call during a recent courtesy visit by the Managing Director of NELFUND, Akintunde Sawyerr, and his team to his office in Effurun. He emphasized that NELFUND was established to provide financial aid to students across Nigeria and urged PTI students to take full advantage of this initiative.
Speaking at the event, NELFUND’s Managing Director, Akintunde Sawyerr, explained that the fund is accessible to both new and existing students in tertiary institutions in Nigeria. He assured students that disbursement would be completed within a reasonable timeframe for successful applications.
According to Sawyerr, “The loan is designed to support qualified Nigerian students with tuition fees, other academic expenses, and upkeep during their studies in approved tertiary institutions and vocational training centers across the country.”
He further highlighted that NELFUND, a Federal Government intervention agency, is projected to benefit an estimated 2.1 million students. Since its inception, the agency has disbursed over N104 billion to 613,734 students from Nigerian tertiary institutions.
Sawyerr explained that the disbursed funds include institutional fees paid directly to educational institutions and upkeep loans credited to students’ accounts. He noted that NELFUND focuses on students in government-owned tertiary institutions, including polytechnics, universities, and colleges of education, such as PTI.
“We currently have about 417,000 students registered on our portals, with approximately 328,000 having applied. Applications are being processed, and a significant number will receive the loan soon,” Sawyerr stated.
He urged students to leverage this initiative to alleviate financial pressures and focus on their academic pursuits, assuring them that NELFUND is committed to supporting education and skill development in Nigeria.
Dr. Onoji expressed confidence in the transformative potential of the loan scheme and reiterated his commitment to ensuring PTI students are well-informed and adequately supported to access the program.
