Federal Polytechnic Bauchi Acknowledges ₦4.7 Million Student Loan Fund Disbursement for 104 Beneficiaries

The management of the Federal Polytechnic, Bauchi, has confirmed the receipt of a total sum of ₦4,706,700 from the Nigerian Education Loan Fund (NELFUND) under the government’s Students Loan Programme for the 2025 academic year.

In an official acknowledgment letter dated September 23, 2025, and addressed to the Managing Director/Chief Executive Officer of the Nigerian Education Loan Fund, the institution stated that the funds were received on behalf of 104 student beneficiaries enrolled in various programmes at the Polytechnic.

According to the letter signed by Sama’una Nuhu, the institution’s Bursar, on behalf of the Rector, the Polytechnic confirmed that it would reconcile the payments made by students and ensure that any excess balance is refunded directly to the individual students’ accounts.

The Bursar further assured that this process will be carried out in full compliance with the principles of accountability and transparency, which are key components of the newly established student loan initiative.

Commitment to Transparency and Student Support

The Federal Polytechnic Bauchi emphasized that the management is committed to maintaining transparent financial operations, especially concerning external funding received for student welfare. The institution assured stakeholders that all transactions relating to the disbursement and refund of the student loan fund will be properly documented and reported to NELFUND as required.

This acknowledgment marks a significant step in the ongoing rollout of the Students Loan Scheme introduced by the Federal Government to ease the financial burden of tertiary education in Nigeria.

By receiving and managing the funds responsibly, Federal Polytechnic Bauchi joins other participating institutions working to ensure that qualified students have access to quality education without financial barriers.

About the Students Loan Programme

The Nigerian Education Loan Fund (NELFUND) is a federal government-backed initiative designed to provide interest-free loans to eligible Nigerian students across public tertiary institutions. The programme aims to promote equal access to higher education, reduce school dropouts, and encourage skill development among young Nigerians.

Since its official implementation in 2024, the loan scheme has been expanding across several federal and state-owned institutions, with the Federal Polytechnic Bauchi now among the early beneficiaries.

Official Statement from the Institution

Part of the institution’s communication stated:

“The Institution will reconcile the payment made by students and refund the balances directly to the students’ accounts for accountability and transparency of the system.”

The Polytechnic also noted that evidence of all transactions and refunds will be duly communicated to the Nigerian Education Loan Fund to ensure compliance with the programme’s guidelines.

Ensuring Accountability in the Use of Student Loans

The Rector of the Polytechnic, Alh. Sani Usman, reaffirmed the school’s dedication to implementing strict financial procedures in handling public funds. He stressed that transparency in fund utilization is essential for sustaining trust between the institution, the government, and students who rely on such educational support programmes.

This step also demonstrates the Polytechnic’s alignment with national efforts to improve the management of educational resources and promote financial discipline within Nigeria’s higher education system.

The acknowledgment of ₦4.7 million by the Federal Polytechnic Bauchi signifies a growing confidence in the Nigerian Education Loan Fund’s disbursement structure and the institution’s commitment to prudent fund management.

With the student loan programme gaining traction across the country, this development is expected to encourage more Nigerian students to pursue tertiary education without the fear of financial hardship.

The Federal Polytechnic Bauchi continues to set an example of accountability and student-centered administration in Nigeria’s educational landscape.