The Acting Vice Chancellor of the Federal University of Technology, Ilaro, Ogun State, Dr Mikhail Akinde, has commended President Bola Tinubu for establishing the Nigerian Education Loan Fund. He revealed that the institution has received approximately N32 million to support students.
Akinde stated that this intervention has been crucial for many students who, without it, would have been forced to abandon their studies due to financial constraints. The fund has enabled them to remain in school and continue their academic pursuits.
He also extended an invitation to investors, both within and outside Nigeria, to partner with the institution. The goal is to facilitate the mass production of machines fabricated by the institution's staff and students, thereby reducing capital flight associated with importing machinery, particularly for small and medium-scale enterprises.
The vice chancellor made these remarks on Monday during a media engagement and exhibition of fabricated machines. This event was part of the activities planned for the institution’s 23rd convocation, scheduled for Wednesday.
As the polytechnic transitions into a university, Akinde noted that the institution will continue to prioritize technical education. This focus aims to bridge the country’s technological gap and create employment opportunities for the growing population.
He emphasized the need for educational institutions to produce graduates with practical skills, rather than solely relying on certificates that have limited impact on national development. The exhibition showcased the ingenuity of the institution’s researchers and students.
Akinde highlighted some of the innovations on display, including solar- and battery-powered tricycles, palm oil digesters, PET bottle shredders, maize dehuskers, defeathering machines, and incubators. He believes these could be mass-produced to reduce import dependence and generate jobs.
“Our challenge, however, revolves around getting investors who could partner with us for the mass production of several of these machines. We are using this medium to seek investors to join forces with us in deploying technology to create wealth for the nation,” he added.
Akinde further lauded the impact of NELFUND, confirming that approximately 233 students at the institution have benefited from the N32 million disbursed. “I can tell you that NELFUND is actually impacting the lives of students. In the exams we were about to conclude, many students would have been denied the opportunity to sit for them. We captured the names of those already registered under NELFUND, and they were able to write their exams,” he said.
“We are really grateful for the thoughtfulness of President Tinubu. It shows how genuinely concerned he is about ensuring that no Nigerian is denied access to higher education,” the vice chancellor added. The institution is also set to honour Ogun State Governor, Prince Dapo Abiodun; Katsina State Governor, Dr Dikko Radda, who will deliver the convocation lecture; the Olubadan of Ibadan, Oba Rasheed Ladoja; and the Alake of Egbaland, Oba Adedotun Gbadebo, for their contributions to national development.
Earlier, the Director of Research and Development, Dr S.A. Odunlami, described the exhibition as a reflection of the transformative power of research and innovation in addressing real-world challenges. “The projects showcased here reflect not only technical competence but also the vision, dedication, and collaborative spirit of our participants. From groundbreaking prototypes to practical solutions with immediate societal impact, each exhibit demonstrates the vital role of innovation in driving sustainable development and economic growth,” he said.
