Federal Government Clarifies Reasons Behind Delay In Student Loan Unveils New Kickoff Date

Federal Government Clarifies Reasons Behind Delay In Student Loan Unveils New Kickoff Date....KINDLY READ THE FULL STORY HERE▶

The Nigeria Education Loan Fund (NELFund) portal is set to open in March, as confirmed by Akintunde Sawyerr, the Executive Secretary of NELFund, during a recent interview in Abuja. Sawyerr encouraged eligible students to register and access the fund once the portal is live.

President Bola Tinubu signed the Access to Higher Education Bill into law on June 12, 2023, aiming to provide interest-free loans for indigent students pursuing education in Nigerian tertiary institutions. Originally slated to commence between September and October 2023, the program experienced a revised timeline, now scheduled for January due to unforeseen circumstances.

In the interview, Sawyerr clarified that the delay was attributed to the technical nature of the process, requiring necessary measures for proper execution. He reiterated President Tinubu’s commitment to ensuring that financial constraints should not hinder any student in Nigeria from pursuing tertiary education.

The scheme is tailored for indigent Nigerian students in tertiary institutions, and applications will be accepted online to ensure a fair and accessible process. Sawyerr emphasized the importance of getting the program right, stating that it is not a hastily implemented political initiative but a long-term project aimed at providing equal opportunities to all applicants.

“The take-off date is this month (March), and the reason for the delay is that we are trying to get it right,” Sawyerr stated. “We want this to be a process that is fair to all, and we will advertise the portal widely so that applicants will be able to go to the website to fill out a series of forms and answer certain questions.

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