NELFUND Allocates Over N10bn For Student Loans

NELFUND Allocates Over N10bn For Student LoansMr. Akintunde Sawyerr, the Managing Director and CEO of the Nigerian Education Loan Fund (NELFUND), announced on Wednesday that the fund has disbursed over N10 billion to successful applicants since the program launched in August 2024.....KINDLY READ THE FULL STORY HERE▶

During a meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing at the National Assembly Complex in Abuja, Sawyerr addressed concerns about potential discrimination within the loan scheme. He emphasized that the fund has actively engaged with communities across the country, particularly in the South-East, which had previously expressed feelings of marginalization.

“So far, the fund has received over 350,000 applications and disbursed more than N10 billion, with plans to allocate a total of N90 billion for tuition fees and stipends,” he stated.

Sawyerr noted that applications are averaging over 1,000 per day and highlighted that special provisions are being made for students with disabilities. He also stressed the importance of promoting education for girls, asserting that denying them access to education undermines the nation’s leadership potential.

With 70% of Nigeria’s population under 35, Sawyerr warned that failing to provide educational opportunities for this demographic could lead to future instability. He expressed that President Bola Tinubu’s intervention in this initiative is timely and crucial for the nation’s development.

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