Oladepo Caleb Olugbenga, the best graduating student of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State, has attributed his academic success to the Nigerian Education Loan Fund (NELFUND). The Electronic and Electrical Engineering graduate achieved a remarkable CGPA of 4.89, earning him the top spot for the 2024/2025 academic session.
NELFUND's Role in Academic Excellence
The embedded systems engineer was honored at a recognition ceremony at the Fund's headquarters in Abuja on Friday, accompanied by members of LAUTECH's management. He praised NELFUND for its crucial support during his final year, noting that he applied for the loan at midnight using only his mobile phone. The institutional fees and monthly upkeep allowance provided by the fund alleviated the financial burden on his parents, allowing him to concentrate on his studies without worrying about tuition and basic academic needs.
Olugbenga described the initiative as a game-changer for students from modest backgrounds. He urged eligible undergraduates across Nigeria to seize the opportunity, emphasizing that such funding can be the difference between abandoning a degree and graduating with excellence. Recalling the application process, he said: "I applied for the loan at midnight. I got my ID card, admission letter and everything I needed to submit. I started the process around 11pm. I didn't contact anybody and never visited any office, just me, my phone and my Internet connectivity."
He encouraged students, especially those from low-income families, to reduce the financial pressure on their parents, who sometimes resort to high-interest loans to cover tuition fees. Olugbenga plans to pursue advanced studies in embedded systems and automation, either in Nigeria or abroad.
NELFUND's Impact and Growth
The development comes as NELFUND marks its second anniversary since the launch of its portal in 2024. According to the Fund's dashboard, as of April 28, 2026, it has disbursed over N242 billion to more than 1.3 million students across 288 beneficiary institutions.
NELFUND's Managing Director and Chief Executive Officer, Akintunde Sawyerr, expressed delight at Olugbenga's testimony, describing it as a strong validation of the Fund's growing impact in addressing educational financing gaps. He noted that such firsthand experiences underscore the transformative role of the scheme in empowering students to complete their studies without crippling financial pressure. Sawyerr added that the Fund remains committed to expanding its reach to benefit more Nigerians.
He further explained that success stories from beneficiaries indicate that the initiative is fulfilling its core mandate of promoting equitable access to higher education. By removing financial barriers, the Fund supports individual aspirations and contributes to national development by cultivating a more skilled and competitive workforce. Sawyerr also conveyed appreciation to President Bola Tinubu for his foresight and commitment in establishing the initiative, which continues to open access to quality education for students who might otherwise be excluded due to financial constraints.
Support from LAUTECH Officials
Olugbenga was accompanied by Dr. Adetunbi Ige, Director of the Centre for Institutional Support, Alumni and Development, LAUTECH, and Dr. Oluwafisayo Afebimpe, Deputy Dean of Student Affairs. Dr. Afebimpe applauded President Tinubu for introducing a student-focused intervention that eases access to higher education. She also commended Sawyerr's leadership for its transparent, student-centered approach to disbursing education loans, which has restored confidence in public intervention programs. She praised the agency for its efficiency, timely response to student needs, and commitment to ensuring that financial constraints do not hinder academic progress, especially among indigent students.
In his remarks, the Senior Special Assistant to the President on Student Engagement, Sunday Asefon, urged students to take full advantage of the student loan initiative. The event was also attended by the Fund's Executive Director Operations, Mustapha Iyal; General Counsel, Funmi Alagbada; and Director of Strategic Communications, Oseyemi Oluwatuyi, among others.
