The Nigerian Education Loan Fund (NELFUND) has announced the disbursement of over N10 billion to successful applicants since its inception in August 2024.
Managing Director Akintunde Sawyerr made this disclosure during a meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing.
Sawyerr addressed concerns regarding potential discrimination within the loan scheme, asserting that NELFUND is committed to inclusivity and has actively reached out to all regions, particularly the South-East, which had previously raised issues of marginalization.
“To date, we have received over 350,000 applications and are disbursing an average of 1,000 loans daily,” Sawyerr stated, highlighting special provisions for students with disabilities and initiatives aimed at promoting girl-child education.
The chairman of the committee, Gboyega Isiaka, commended NELFUND’s efforts and emphasized the importance of a strategic vision for the agency’s future.
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He urged the management to proactively plan for the next three to five years, ensuring the fund effectively meets its goals in providing educational loans across Nigeria.
Sawyerr described the loan initiative as a progressive policy akin to historic educational reforms in Nigeria, aimed at transforming the nation’s educational landscape and securing a brighter future for its youth.
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