Daud Olatunji
The Nigerian Education Loan Fund (NELFUND) has announced significant strides in the disbursement of student loans, with over N10 billion distributed and 350,000 applications received so far.
Managing Director and CEO of NELFUND, Akintunde Sawyerr, revealed this on Wednesday during a meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing at the National Assembly Complex, Abuja.
Sawyerr emphasized the inclusivity of the loan scheme, ensuring that every Nigerian, irrespective of location or background, could access education.
He also noted a focused outreach to marginalized regions, particularly the South East, which has seen a surge in applications following sensitization efforts.
He stressed the importance of providing educational opportunities for all, especially for the girl-child and students with disabilities, recognizing the long-term impact on Nigeria’s stability and development.
Applications for the loan scheme continue to grow at an average of 1,000 per day, with a commitment to disburse N90 billion in tuition fees and stipends.
Sawyerr praised the initiative as a crucial intervention by President Bola Tinubu’s Renewed Hope Agenda, aimed not only at providing immediate relief in challenging economic times but also fostering long-term growth and stability.
Chairman of the Committee, Gboyega Isiaka, hailed NELFUND as a critical agency for empowering Nigerian youth, while also stressing the need for accountability and transparency in its management.
He reiterated the committee’s commitment to ensuring the scheme is well-managed and that the agency achieves its potential in the coming years.
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