The Nigerian Education Loan Fund (NELFUND) has announced the approval of student loan disbursements to successful applicants.
This milestone decision was made during the fund’s inaugural board meeting held on Wednesday, marking a significant step in supporting students with financial aid.
Under the leadership of Chairman Mr. Jim Ovia, the board approved the immediate disbursement of student loans. A late Wednesday statement from the agency’s X account confirmed this development.
The press release, titled “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda,” was signed by Nasir Ayitogo, Head of Media and Public Relations.
The meeting, attended by NELFUND’s management and representatives of member organizations, also set the stage for future initiatives aimed at enhancing educational opportunities and supporting students across various disciplines.
The approval of these loans aligns with the presidency’s vision of improving the quality of education and making it more affordable.
The statement highlighted President Bola Ahmed Tinubu’s dedication to providing essential financial assistance to students, enabling them to pursue their educational goals without undue financial stress.
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By approving the immediate disbursement of the loans, NELFUND is taking a critical step toward fulfilling its mission of empowering the next generation of leaders through education.
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Also present at the meeting were the fund’s Managing Director/CEO, Mr. Akintunde Sawyerr, and representatives from member organizations. This decision underscores a commitment to making higher education accessible to all.
President Tinubu had previously signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3, 2024. Registration for the program began in May, with 1.2 million students in federal tertiary institutions across the country being the first batch to benefit.
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