Federal University of Technology, Ilaro has disclosed that 233 students benefited from N32 million disbursed under the Nigerian Education Loan Fund scheme in the current academic session, with the institution's Acting Vice Chancellor describing the initiative as one of the most impactful policies of the Tinubu administration.

Dr Mikhail Akinde disclosed while addressing reporters at the Ilaro campus during activities marking the institution's 23rd convocation ceremony. He noted that many of the beneficiaries might have been unable to sit for their recently concluded semester examinations or dropped out entirely without the loan facility introduced by the President Tinubu administration.

Akinde described the NELFUND intervention as revolutionary in removing financial barriers to tertiary education, particularly for indigent students. He stated that the scheme had transformed access to higher education across the country by ensuring that financial constraints no longer determine whether a student completes their academic programme.

The Acting Vice Chancellor also provided context on the institution's ongoing transition, noting that FUTI, formerly established as a polytechnic in 1979, officially became a university in May 2025 after President Bola Ahmed Tinubu assented to a Bill upgrading it to a full University of Technology. Akinde emphasised that the institution is undergoing the transition gradually, without losing its core values of invention, innovation, and fabrication, which have defined its identity since its polytechnic years.

The 23rd convocation ceremony, scheduled for the following day, will feature the conferment of fellowship awards on four prominent Nigerians. Ogun State Governor Dapo Abiodun, Katsina State Governor Mallam Umaru Radda, the Alake of Egbaland Oba Adedotun Gbadebo, and the Olubadan of Ibadanland Oba Rashidi Ladoja are among the dignitaries set to receive the honour at the event.

Akinde reaffirmed the institution's commitment to academic excellence and student welfare as it charts a new course as a full university, expressing confidence that the NELFUND scheme would continue to support students in the sessions ahead.