The newly appointed Principal and Chief Executive of the Petroleum Training Institute (PTI), Effurun, Dr. Samuel Onoji, has urged students of the institute to take full advantage of the Nigerian Education Loan Fund (NELFUND) to alleviate their financial burdens.
Dr. Onoji made the call during a courtesy visit from the Managing Director of NELFUND, Akintunde Sawyerr, and his team to the institute on Monday. He emphasised that NELFUND was established to provide financial support to students across Nigeria, and he encouraged PTI students to explore the opportunity.
In his address, Dr. Onoji highlighted the importance of the loan scheme, noting that NELFUND was designed to assist students in financing their education, from tuition fees to upkeep expenses, both in approved tertiary institutions and vocational training centres across Nigeria.
During the visit, Sawyerr reassured PTI students that NELFUND is available to both new and returning students of tertiary institutions. He explained that the disbursement process is efficient, with loans being provided within a reasonable period following successful applications.
“The loan offers financial assistance for tuition fees, other academic charges, and living expenses during studies at recognised institutions,” said Sawyerr. He also highlighted that NELFUND, established by the federal government, aims to ease the financial challenges faced by students in government-owned tertiary institutions, such as polytechnics like PTI, universities, and colleges of education.
Since its inception, NELFUND has disbursed over N104 billion to 613,734 students across the country. Sawyerr projected that the number of beneficiaries may rise to approximately 2.1 million in the near future.
“The funds are disbursed directly to educational institutions for tuition payments, and upkeep loans are paid directly into the student’s account,” he added.
Sawyerr further revealed that approximately 417,000 students have registered on the NELFUND portal, with about 328,000 having applied. He assured that a large portion of these applicants would receive the loans, highlighting the scheme’s crucial role in supporting Nigerian students throughout their academic journey.
The visit served as an important reminder to PTI students about the financial opportunities available to ease their educational expenses.
