President Bola Tinubu on Monday has directed the expansion of students’ loan programme to include skill development.
Tinubu orders the management of the Nigeria Education Loan Fund (NELFUND) to expand its focus area by extending interest-free loans to Nigerian students interested in skill-development programmes.
The President issued this directive at the State House on Monday after a briefing from Mr. Akintunde Sawyerr, Executive Secretary of NELFUND, on the build-up to the launch of the programme later in the month.
The President said it is important for the scheme to accommodate those who may not want to pursue university education, noting that skill acquisition is as important as obtaining undergraduate and graduate academic qualifications.
DAILY GIST recalls that President Bola Tinubu signed the Student Loan bill into law in June, 2023.
The Act allows Nigerian students in tertiary institutions to access interest-free loans from the Nigerian Education Loan Fund.
The Minister of State for Education, Dr Yusuf Sununu, who was briefing the State House Correspondents on Wednesday after the first Federal Executive Council meeting for 2024, stated that the website for application is almost done and will be open for students soon.
“January is a reality. Already the website is almost done. Application for beneficiaries is going to be online and you can access your loan within 30 days,” he said.
The minister had earlier assured that all Nigerian students in public school are eligible to apply and they don’t need to have a god-father to access the loan.
Sununu, while briefing the press, also stated that the Fund has already been set aside in the 2024 budget and the supplementary budget 2023.
“The criteria for you is to get your admission, to be in Nigeria, and find yourself in a public school. If you are qualified, you have to apply online, which will be processed in a timely manner, and you can access your loan within 30 days.
“Fund has been set aside in the 2024 budget and the supplementary budget 2023.
