President Bola Tinubu has officially launched the Nigeria Education Loan Fund (NELFUND) at the State House in Abuja.
During yesterday’s launch ceremony, President Tinubu emphasised his administration’s commitment to inclusiveness and ensuring sufficient funding to sustain the program.
Tinubu restated that education remains the greatest weapon against poverty, terrorism, banditry and other societal fixes.
“What I believe is that education is the greatest weapon against poverty in any society; without education, there is no vision, there is development, and you cannot successfully conquer insecurity.
“Education is the light at the end of the tunnel; no matter how sluggish you move, it will give you light and hope.”
The president further noted that Nigeria will continue to invest in education to empower its citizens and deploy it as a tool against terrorism, banditry, and insecurity.
“And we are investing. We don’t want to try ignorance as an alternative. We want education from foundations to the topmost level, and I am glad that leadership and its leadership accepted the responsibility.
“There is hope, genuineness, and commitment available here. Inclusivity is what democracy is all about.
“Today, I am fulfilling one of my greatest campaign agendas; You cannot find your way if you are not well educated; you cannot even fight terrorism and banditry.
“If we have successful inclusive loans that are necessary for our people to get educated and invest in their own lives, we would have built a fair society and promised that we would earn a banner without stain to our children,” he said.
The president also symbolically presented loan cheques to students from each geo-political zones, indicating the beginning of the disbursement of the fund to qualified Nigerian students.
Tinubu also presented cheques to the vice-chancellors of Bayero University, Kano, and Federal University of Technology, Owerri, among other institutions present.
Disclosing the NELFUND portal’s key metrics from May 25 to the present, the executive secretary of the NELFUND, Akintonde Sawyerr, said 164,000 students registered for the loan, of which 103,000 applied.
Sawyerr revealed that a total sum of N32 billion is currently available for disbursement to kick-start the programme.
He said NELFUND aims to empower Nigerian youth by providing fair, transparent funding and removing financial barriers to educational opportunities and academic pursuits.