RismadarVoice Reporters, April 14, 2026
The Acting Vice Chancellor of the Federal University of Technology, Ilaro (FUTI), Mikhail Akinde, has praised President Bola Tinubu for the establishment of the Nigerian Education Loan Fund (NELFUND), describing its impact on students as significant and far-reaching.
Akinde disclosed that the institution has received approximately ₦32 million from the fund, which has been used to support students facing financial difficulties.
According to him, the intervention has enabled many beneficiaries to remain in school and continue their academic programmes instead of dropping out.
He made these remarks on Monday during a media briefing and exhibition of locally fabricated machines, part of activities marking the institution’s 23rd convocation ceremony scheduled for Wednesday.
The vice chancellor emphasised the need for stronger collaboration between the institution and investors, both within Nigeria and abroad, to scale up the production of innovative machines developed by staff and students. He noted that mass production of such equipment would help curb capital flight caused by heavy reliance on imported machinery, particularly among small and medium-scale enterprises.
Akinde reaffirmed the institution’s commitment to maintaining a strong focus on technical and practical education as it transitions from a polytechnic to a full-fledged university. He stressed that producing graduates with hands-on skills is essential for addressing Nigeria’s technological challenges and reducing unemployment.
Speaking on the exhibition, he highlighted various student-led innovations, including solar- and battery-powered tricycles, palm oil processing machines, PET bottle shredders, maize dehuskers, poultry defeathering machines, and incubators. He described the projects as practical solutions with the potential to drive economic growth and industrial development.
“Our major challenge is securing investors who can partner with us to commercialise these innovations. We are calling on stakeholders to collaborate with us in using technology to create wealth and reduce dependence on imports,” he said.
Akinde further revealed that about 233 students of the university have benefited from the NELFUND disbursement, noting that the scheme played a crucial role during ongoing examinations.
“Many students would have been unable to sit for their exams due to financial constraints. With NELFUND support, they were able to complete their registration and participate fully,” he explained, expressing gratitude to President Tinubu for prioritising access to higher education.
As part of the convocation activities, the university will honour notable figures, including Ogun State Governor, Dapo Abiodun; Katsina State Governor, Dikko Radda, who is expected to deliver the convocation lecture; the Olubadan of Ibadan, Rasheed Ladoja; and the Alake of Egbaland, Adedotun Gbadebo, in recognition of their contributions to national development.
Earlier, the institution’s Director of Research and Development, S. A. Odunlami, described the exhibition as a testament to the power of research and innovation in addressing real-world challenges. He noted that the projects reflect not only technical expertise but also creativity and collaboration, underscoring the role of innovation in driving sustainable development and economic progress.
