Breaking: Tinubu approves kick off of student loan scheme, inaugurates committee

Following amendments to the Student Loan Scheme bill, President Bola Tinubu has approved the program’s commencement.

Persecondnews reports that Tinubu is currently inaugurating the presidential committee to drive the scheme at the State House, Abuja.

Tinubu is expected to give the implementation team terms of reference to ensure that the scheme does not deviate from its mandate.

In an effort to expedite the start of the initiative, the President in June approved the disbursement of N35 billion through specific criteria by the Nigerian Education Loan Fund, NELFund, with a target of 70,000 initial applicants.

During the NELFund’s inaugural meeting in Abuja last month, Mr. Jim Ovia, who Tinubu appointed to chair the Governing Board, approved the disbursement of loans to successful applicants.

Details later…