For Oladepo Caleb Olugbenga, the best graduating student of Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Oyo State, his story is not complete without the impact of the Nigerian Education Loan Fund (NELFUND).

The Electronic and Electrical Engineering star clinched the top spot with a remarkable CGPA of 4.89, earning widespread acclaim as the university’s best graduating student for the 2024/2025 academic session.

The embedded systems engineer, who was honoured at a recognition ceremony at the Fund’s headquarters in Abuja on Friday, was accompanied by some members of his institution’s management. He spoke glowingly about the agency’s support, noting  that the fund proved crucial in his final year, stepping in at a decisive moment when he applied for the facility at midnight with his mobile phone.

The First Class graduate explained that the institutional fees and monthly upkeep allowance eased mounting financial pressure on his parents, allowing him to stay focused on his studies rather than worry about fees and basic academic needs.

Olugbenga highlighted the broader significance of the initiative, describing it as a game-changer for students from modest backgrounds. He urged eligible undergraduates across the country to take advantage of the opportunity, stressing that access to such funding could be the difference between abandoning a degree and graduating with excellence.

Recalling how he applied for the facility, 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 at times resort to high-interest loans to cover tuition fees.

On what next, Olugbenga intends to pursue advanced studies in embedded systems and automation, either within Nigeria or abroad.

The Guardian reports that the  development comes as the agency marks its second anniversary since the launch of its portal in 2024. Checks on the Fund’s dashboard revealed that as of April 28, 2026, it has disbursed over N242 billion to more than 1.3million students across 288 beneficiary institutions.

For the Managing Director/Chief Executive Officer of NELFUND, Akintunde Sawyerr, he expressed delight at the young graduate’s testimony, describing it as a strong validation of the Fund’s growing impact and relevance in addressing educational financing gaps across the country.

He noted that such firsthand experiences underscore the transformative role of the scheme in empowering students to complete their studies without the burden of crippling financial pressure, adding that the Fund remains committed to expanding its reach to benefit more Nigerians.

He further explained that the success stories emerging from beneficiaries serve as a clear indication that the initiative is fulfilling its core mandate of promoting equitable access to higher education.

According to Sawyerr, by removing financial barriers, the Fund is not only supporting individual aspirations but also contributing to national development through the cultivation of a more skilled and competitive workforce.

He also conveyed appreciation to President Bola Tinubu for his foresight and commitment in establishing the initiative, noting that the programme continues to open up access to quality education for students who might otherwise be excluded due to financial constraints.

The MD explained that the administration’s support has been instrumental in ensuring the sustainability of the scheme, while reinforcing government’s broader agenda of inclusive growth and human capital development.

Olugbenga was accompanied by the Director, Centre for Institutional Support, Alumni and Development, LAUTECH, Dr Adetunbi Ige as well as Deputy Dean of Students Affairs, Dr Oluwafisayo Afebimpe who applauded President Tinubu for introducing a student-focused intervention that is easing access to higher education.

Dr Adebimpe also commended the Sawyerr-led agency for its transparent, student-centred approach to the disbursement of education loans, noting that it has helped to restore confidence in public intervention programmes.

She further praised the agency for its efficiency in implementation, timely response to student needs, and its 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 designed to support their education.

The event was also graced by the FUND’s Executive Director Operations, Mustapha Iyal;  General Counsel, Funmi Alagbada; Director, Strategic Communications, Oseyemi Oluwatuyi among others.