The Vice Chancellor of Bowen University, Iwo, Osun State, Prof. Jonathan Babalola, has criticised the Federal Government for excluding students of private universities from the Nigerian Education Loan Fund (NELFund), describing the move as unfair and discriminatory.
Babalola argued that all Nigerian students—whether in public or private institutions—deserve equal access to the loan scheme, which is funded through taxpayers’ money.
“It is insincerity from the federal government to say that private universities cannot benefit from it. NELFund should be made available for students in both public and private universities. We are all Nigerians, so why discriminate between students in private and public institutions?” he said.
The Vice Chancellor made the remarks on Wednesday during a press briefing ahead of the university’s 20th convocation ceremony scheduled for Saturday.
Babalola lamented that many students in private universities also face financial hardships despite perceptions that they come from wealthy backgrounds. “On this same campus, I met a student who eats only once a day because his parents take loans to keep him in school. Not all students here are rich,” he added.
The NELFund, established in 2024 following its signing into law by President Bola Tinubu, provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses. The scheme, launched in May 2024, aims to remove financial barriers to education and support students from low-income families. Beneficiaries are expected to repay the loans after securing employment.
Meanwhile, NELFund recently disclosed that it has disbursed over ₦116.4 billion to beneficiaries since the launch of its online portal. According to a report released on October 28, 2025, a total of 929,805 applications have been received, with 624,535 students benefiting from the programme.
At Bowen University’s upcoming convocation, 1,064 students will graduate, including 143 with First Class Honours, 394 with Second Class (Upper Division), 221 with Second Class (Lower Division), 69 with Third Class, and 5 with Pass degrees.
In the College of Health Sciences, 66 students will receive the Bachelor of Medicine, Bachelor of Surgery (MB;BS) degree. Additionally, 18 postgraduate diplomas, 26 master’s degrees, and 9 doctoral degrees will be conferred.
Babalola also announced that for the sixth consecutive year, Bowen scholars have been ranked among the world’s Top 2% of scientists by Stanford University and Elsevier. Furthermore, 13 staff members were listed among Nigeria’s Top 500 Authors between 2021 and 2025, based on SCOPUS/SCiVal research metrics.
He lauded the university’s staff for their dedication and noted that the ceremony would mark the end of tenure for the Registrar, Mr. Babatunde Adeona; the University Librarian, Dr. Aderonke Otunla; and the Chaplain, Rev. Dr. Gideon Akanbi.
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