Tinubu's Govt Explains How Students Will Access Loans, Directs Inclusion of Skill Development

• President Bola Tinubu has directed NELFUND to expand the student loan program to include skill-development programmes.
• NELFUND Executive Secretary, Akintunde Sawyerr said there would be no human contact in accessing the student loan
• According to Sawyerr, funds for successful students will be transferred directly to the schools’ accounts.

Legit.ng journalist Adekunle Dada has over 5-year-experience covering basic and tertiary education in Nigeria and worldwide

State House, Abuja - The Executive Secretary of Nigeria Education Loan Fund (NELFUND), Akintunde Sawyerr, has explained how the student loan would be accessed by interested Nigerians.

Sawyerr said there will be no human contact in accessing the loan as everything will be automated and funds for successful students will be transferred to the schools’ accounts.

This was contained in a statement issued by Chief Ajuri Ngelale Special Adviser to the President on Media and Publicity, on Monday, January 22, 2024, via the Presidency X page (formerly known as Twitter) @NGRPresident

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"By design, this is a perpetual programme and will not terminate. The funds, earmarked for bonafide Nigerian students, will be disbursed directly to the institutions in the initial phase through electronic transfer. Our students will be catered to in a way that bypasses human interference through the full utilization of available technological platforms, in adherence to Your Excellency's stated objectives."

He stated this after meeting with President Bola Tinubu at the State House on Monday.

Meanwhile, Tinubu directed NELFUND to expand the student loan program to include students interested in skill-development programmes.

The President said skill acquisition is as important as obtaining undergraduate and graduate academic qualifications.

"This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas. This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation. In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education."

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FG gives new update on student loan

Meanwhile, Legit.ng reported that the federal government of Nigeria will open the website for the much-anticipated student loan as soon as the opportunity kicks off this January (2024).

The minister of state for education, Yusuf Sununu, said the January 2024 date for the take-off of the student loan was still in place.

Sunubu added that a website had already been working for interested Nigerian university students with the requisite criteria.

Source: Legit.ng