General
NELFUND Disburses N1.5bn to 6,129 Students in Three Tertiary Institutions
By Adedapo Adesanya
The Nigerian Education Loan Fund (NELFUND) distributed a total of N1.5 billion to 6,129 students across three institutions in the country for the 2025/2026 academic session.
According to an update on its verified X handle on Thursday, it was disclosed that the beneficiary schools include Bamidele Olumilua University of Education, Science and Technology (BOUESTI) in Ekiti State, Sikiru Adetona College of Education, Science and Technology in Ogun State, and the Edo State College of Nursing Sciences in Benin City, Edo State.
A breakdown of the documents noted that N1,360,920,800 was disbursed to Bamidele Olumilua University of Education, Science and Technology, Ekiti State, covering 5,396 students across five tranches, N104,530,000 to Sikiru Adetona College of Education, Science and Technology, Omu-Ajose, Ogun State, covering 680 students, and N36,485,000 to the Edo State College of Nursing Sciences, Benin City, Edo State, covering 53 students.
The largest disbursement went to BOUESTI, which received N1,360,920,800 across five tranches covering 5,396 students, followed by Sikiru Adetona College, which received N104,530,000 for 680 students, and the Edo State College of Nursing Sciences, which received N36,485,000 covering 53 students.
The Registrar of Sikiru Adetona College, Dr Bukola Makinde, confirmed the funds had already reached individual students.
“The said money had since been disbursed into the bank accounts of the students’ beneficiaries,” she said, describing the support as enabling students “to enjoy financially hitch-free academic progress.”
The Provost of the Edo State College of Nursing Sciences, Mrs Mabel Omobude, pledged full accountability in the use of the disbursed funds.
“The disbursement will be judiciously applied strictly for its intended educational purposes in tandem with global best practices,” she said, adding that the college reaffirms its “continued commitment to compliance, transparency, and accountability in the administration of this facility.”
BOUESTI Vice-Chancellor Prof. Andrew Babatunde Omojola confirmed receipt of the full N1,360,920,800 disbursed across five tranches and commended NELFUND’s leadership for delivering the funds efficiently.
“We hereby confirm the receipt of a total sum of One Billion, Three Hundred and Sixty Million, Nine Hundred and Twenty Thousand, Eight Hundred Naira only, being the total payment of the five tranches of student loan approved to 5,396 students of BOUESTI, disbursed for the 2025/2026 academic session,” he said.
“We want to appreciate the Federal Government and sincerely applaud the Managing Director of NELFUND and his team for their efforts and efficiency in ensuring the objectives of the scheme are achieved nationwide,” he added.
By Adedapo Adesanya
The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has announced that Nigeria will launch a new alphanumeric postcode system on October 1, 2026, with every home expected to have a unique postcode.
Mr Tijani disclosed the development in a video post on X, describing the new system as a more precise and digitally oriented approach to addressing locations across the country.
He said the initiative would mark a significant shift in Nigeria’s postal addressing system by assigning unique postcodes to individual homes.
The initiative marks a major step in Nigeria’s digital transformation agenda. By replacing the outdated numeric-only system, the alphanumeric codes provide a more flexible and scalable framework that can accommodate the country’s rapid urban growth and diverse settlement patterns.
For emphasis, an alphanumeric postcode system is a postal indexing system that uses a combination of both letters (alpha) and numbers (numeric), along with spaces or punctuation, to identify specific geographic locations, streets, or individual buildings for mail delivery.
Unlike purely numeric postcode systems (such as the 5-digit US ZIP Code or 5-digit codes used in some European countries), alphanumeric codes offer a much higher number of unique combinations using fewer total characters. This flexibility allows postal authorities to pinpoint locations with incredible precision, often down to a single side of a street or a specific large building.
“On October 1st 2026 Nigeria’s new Alphanumeric Postcode System goes live,” Mr Tijani said.
“For the first time, every home will be assigned a unique postcode that’s simple, precise and built for a digital future,” he added.
The minister urged Nigerians to prepare to generate their individual postcodes ahead of the launch.
The new system is expected to strengthen Nigeria’s digital addressing infrastructure and improve the identification and location of homes and properties for postal and other location-based services.
The initiative is being implemented in collaboration with the Nigerian Postal Service (NIPOST) as part of broader efforts to modernise the country’s addressing and digital infrastructure.
By Modupe Gbadeyanka
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has been directed to give an account to Nigerians on how the current government has fared since its inception on May 29, 2023.
This directive was given by President Bola Tinubu in a message posted on his verified social media handles on Wednesday.
This coincides with the commencement of campaigns for the 2027 presidential election scheduled for January 16.
According to the timetable of the Independent National Electoral Commission (INEC), candidates seeking to become the country’s president are eligible to kick off their campaigns from today, Wednesday, August 19, 2026.
In his message today, Mr Tinubu said, “When we began this journey of reform in 2023, I promised that the difficult decisions we were making would serve the purpose of building an economy that works better for you and a country that is stronger for our children.
“Today, your government presents The Reforms Scorecard. It sets out what our reforms have achieved, what they have cost us, and the greater costs and harms we have prevented by acting when we did.
“I have therefore directed the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to give an account to Nigerians, to explain the numbers, the choices we have made, the progress recorded, and the work that remains.
“You deserve to see the numbers. You deserve to know what has changed and what these reforms mean for you, your family, your business and our country.
“This is your government. This is your country. This is our account to you.”
Shortly after he took the oath of office over three years ago, President Tinubu declared that subsidies on petroleum products were gone. He later approved foreign exchange (FX) reforms, which devalued the Nigerian Naira, shooting from about N800 per Dollar to nearly N2,000 per Dollar. However, it is currently slightly above N1,340 per Dollar in the official market.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Agip Exploration (NAE) Limited are advancing discussions on the development of deepwater assets estimated to hold 500 million barrels of oil reserves.
The development followed a meeting between the chief executive of the state oil company, Mr Bayo Ojulari, and Agip’s Vice Chairman and Managing Director, Mr Maurizio Pinna, in Abuja.
The talks focused on ongoing work on deepwater acreage jointly held by NNPC, NAE and Shell Nigeria Exploration and Production Company (SNEPCo) as well as plans to bring the associated resources into production.
According to NNPC, the acreage comprises the Zabazaba and Etan deepwater fields, with estimated reserves of about 500 million barrels.
The fields are located in Nigeria’s deepwater terrain and are considered significant to the country’s efforts to expand its upstream oil production base, particularly as operators seek to advance projects capable of delivering additional barrels over the medium to long term.
While details of the expected production timeline were not disclosed, the meeting underscores renewed industry focus on unlocking Nigeria’s deepwater resources and growing crude oil production.
The acreage comprises licences converted from OPL 245 and is operated by NAE in partnership with NNPC Limited and SNEPCo.
Mr Ojulari and Mr Pinna also reviewed the work currently underway on the assets and the expected production outlook, with the discussions centred on advancing deepwater development.
The engagement comes amid renewed efforts to attract investment into Nigeria’s offshore petroleum resources and increase national oil production.
