No fewer than 3,281 students from the Federal University Oye-Ekiti (FUOYE) have benefited from the federal government's student loan scheme through the Nigerian Education Loan Fund (NELFund).
The Vice Chancellor of FUOYE, Professor Abayomi Fasina, disclosed this during a press briefing on Monday, ahead of the university's 9th convocation ceremony. He noted that the institution has received over N308 million from NELFund to support the school fees of its students.
Professor Fasina expressed gratitude to President Bola Tinubu for initiating the loan scheme, highlighting its significant impact on the nation's education sector. He emphasized that the program has enabled more students to continue their studies and has contributed to increased enrolment at the university.
The Vice Chancellor also reported that FUOYE has made remarkable strides in recent years, particularly in terms of accredited programs and infrastructural development. He revealed that the university was recently ranked 12th in the country and, under his leadership over the past four years, has become one of the most sought-after universities in Nigeria, completing a total of 156 projects.
According to Professor Abayomi Fasina, Vice Chancellor of the Federal University Oye-Ekiti (FUOYE), “I express my profound gratitude to His Excellency, President Bola Ahmed Tinubu, for his steadfast support of FUOYE and the Nigeria Education Loan Fund (NELFUND).” He noted that many students have been able to pay their school fees in the last three months due to access to this loan, which has significantly aided the university.
“Previously, we had to pursue students for their school fees every session, but with NELFUND, the funds are now sent directly to us,” he explained. Professor Fasina also highlighted FUOYE’s growth trajectory, guided by strategic initiatives aimed at addressing both immediate and long-term goals.
One key initiative is the Green Revolution Initiative, launched in 2023, which focuses on sustainable agricultural practices. “To date, we’ve cultivated 15 hectares of oil palm, 10 hectares of cassava, and 5 hectares of pineapple, and we are exploring further agricultural ventures. This initiative not only enhances FUOYE’s financial sustainability but also contributes to national food security and economic development.”
Fasina announced that no fewer than 177 students graduated with a First Class degree, 3,466 with Second Class Upper, 3,715 with Second Class Lower, and 831 with Third Class, out of a total of 8,444 graduating students. He noted that the Executive Secretary of TETFund, Sunday Echono, would deliver the convocation lecture on February 22, 2024, before the award of degrees and honorary degrees to four distinguished personalities in the country.
According to him, the recipients of the university’s honorary degrees for their contributions to the nation and advancement of humanity include two former Attorneys General of the Federation and Ministers of Justice, Senator Kanu Agabi and Chief Adebayo Ojo; the chairman of Air Peace Airline, Dr. Allen Onyema; and the Managing Director of First Bank, Segun Alebiosu.
The VC also mentioned that the university would launch an endowment fundraising campaign of N1 billion on February 20, 2025, as part of the convocation ceremony activities. He highlighted that the 9th Convocation Ceremony would feature the commissioning of projects, including a 1,000-seater auditorium, the Fasina Conference Center, a 3-in-1 Science Laboratory, a new CBT center, and the Faculty of Law and Education building, among others.
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