NELFUND has approved the release of student loan funds

The Nigerian Education Loan Fund (NELFUND) has taken a significant step forward by approving the disbursement of student loans to successful applicants, following its inaugural board meeting held on Wednesday. Led by Chairman Mr. Jim Ovia, the board’s decision underscores NELFUND’s commitment to empowering students through financial support, as articulated in a statement titled “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda,” issued by Nasir Ayitogo, Head of Media and Public Relations.
This milestone aligns with the government’s broader goal of enhancing educational access and quality, a vision championed by President Bola Ahmed Tinubu. The approval for immediate loan disbursement signifies NELFUND’s proactive approach in fulfilling its mission to support education and cultivate future leaders. The meeting, attended by NELFUND management and representatives from member organizations, also laid the groundwork for upcoming initiatives aimed at further strengthening educational opportunities across various disciplines.
President Tinubu’s commitment to education reform, evidenced by his signing of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3, 2024, underscores the government’s dedication to providing essential financial aid to students in federal tertiary institutions. The registration for this program commenced in May, marking a pivotal moment in advancing educational equity and accessibility for 1.2 million students across the country.