From Fred Ezeh, Abuja
The Governing Board of the Nigerian Education Loan Fund (NELFund) has approved the disbursement of student loan to successful applicants.
The disbursement was ratified at the inaugural meeting of the Board, chaired by its Chairman, Mr. Jim Ovia, in Abuja.
NELFund spokesman, Nasir Ayitogo, in a statement, said the meeting marked a significant milestone in the organisation’s commitment to empowering students through financial support.
He said: “By approving the immediate disbursement of the loans, NELFUND has taken a critical step in fulfilling its mission to support education and empower the next generation of leaders.
“The inaugural meeting also set the stage for future initiatives aimed at enhancing educational opportunities, and providing comprehensive support to students across various disciplines,” he said.
He noted that the student loan programme underscores President Bola 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.
NELFund, last week, said it has witnessed an extraordinary surge in applications, with over 60,000 applications from students successfully submitted since the launch of the programme on May 24, 2024. At least, 1.2 million students are projected to benefit from the first phase of the scheme.
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.
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