Tinubu gives fresh directive on student loan
The management of the Nigeria Education Loan Fund (NELFUND) has been instructed by President Bola Tinubu to broaden the scope of the fund by providing interest-free loans to Nigerian students enrolled in skill-development programs.
The president’s spokesman, Ajuri Ngelale, claims that Tinubu gave this order at the State House on Monday following a briefing from Mr. Akintunde Sawyerr, Executive Secretary of NELFUND, regarding the preparations for the program’s later-in-the-month debut.
The President stated that the program must take into account people who might decide not to pursue higher education, emphasizing the importance of developing one’s skills in addition to earning undergraduate and graduate degrees.
This program is not exclusive. It serves the needs of all of our youth. Nigerian youth exhibit talent in a variety of fields. This is not just for aspiring medical professionals, attorneys, or bookkeepers. It’s also for individuals who want to use their knowledgeable and experienced hands to construct our country. Because not everyone wishes to pursue a university education, I have directed NELFUND to investigate all options for teaching skill-development programs,” he stated.
With the words, “No matter how economically challenged you are, accredited and qualified students will and must have access to this loan to advance their education in higher institutions,” President Tinubu emphasized the need for equity and inclusivity in the administration of the program. Our dedication to this country’s underprivileged residents will never waver.
The fund’s executive secretary, Sawyerr, told the president during his presentation that the loan application procedure will be technology-driven, minimizing human interaction and “eliminating any possibility of maladministration in the program.”
“This is a perpetual program by design and will not terminate,” he said. In the first phase, the funds—designated for legitimate Nigerian students—will be transferred electronically straight to the colleges. In accordance with Your Excellency’s declared goals, our pupils will get care in a manner that avoids human intervention by making full use of the technical platforms that are already accessible.
He added that in order to handle any dangers that might arise from the program, NELFUND has created a strong risk-mitigation system.
Speaking on the program’s funding source, Federal Inland Revenue Service (FIRS) Executive Chairman Dr. Zacch Adedeji stated that funding sources have been made available to guarantee the program’s successful launch and ongoing operations.
The President of Nigeria is permanently resolving the issue of school funding. On the President’s instruction, the Education Tax Fund is being examined in order to better support our nation’s university students in all local government areas who want to pursue traditional and vocational higher education. He stated that the program will have sufficient funding.
