Just In: NELFUND approves disbursement of student loans

The Nigerian Education Loan Fund (NELFUND) has approved the disbursement of student loans to successful applicants.

In a late post on Wednesday on its official X handle, NELFUND disclosed that the board chairman, Mr. Jim Ovia, approved the immediate disbursement of student loans to successful applicants.

After its inaugural board meeting, marking a milestone in its mission to support students with financial aid, the Head, Media and Public Relations, Mr. Nasir Ayitogo, said:”NELFUND is committed to empowering students through financial support.”

In a signed press release by Ayitogo titled, “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda.”

The fund’s management and representatives from member organizations attended the meeting, which also laid the groundwork for future initiatives to improve educational opportunities and support students across various disciplines.

NELFUND’s loan approval represents a step toward empowering the next generation of leaders through education.

The statement read: “The Nigerian Education Loan Fund (NELFUND) on Wednesday, June 26, 2024 held the inaugural meeting of its board in Abuja.

“The meeting marked a significant milestone in the organisation’s commitment to empowering students through financial support.

“Under the leadership of of the Board Chairman, Mr. Jim Ovia, top in agenda was the approval for disbursement of student loans to successful applicants.”

According to the statement, this phase aligns with the presidency’s dream of improving the quality of education and making it affordable for all.

“This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress.

“By approving the immediate disbursement of the loans, NELFUND is taking a critical step in fulfilling its mission to support education and empower the next generation of leaders.

“Also present at the meeting were the management of the fund, led by the Managing Director/CEO, Mr. Akintunde Sawyerr, and representatives of member organisations.”

Persecondnews recalls that in April, President Bola Tinubu passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

This comes after separate considerations by both the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and TETFund.

Speaking after he signed the bill, Tinubu said no Nigerian, regardless of their background, will be excluded from obtaining a quality education.

“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future,” said the President at the State House, Abuja.