President Bola Tinubu says the Nigerian Education Loan Fund (NELFUND) will thrive on fairness and equity and promote inclusiveness by removing the financial barrier to higher education for Nigerian students.
The President’s remarks were contained in a press release issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale.
President Tinubu, who launched the digital NELFUND disbursement exercise at the State House on Wednesday, emphasized that providing loans to students will encourage more people to seek knowledge, pursue higher education, and contribute to national development.
“As I earlier said, my belief is that education is the greatest weapon against poverty. Without education, there is no vision; without education, there will be no development; without education, you cannot successfully conquer poverty, insecurity, and abuse in society,” he stated.
The President commended the Chairman of the Fund, Mr. Jim Ovia, and the Managing Director, Mr. Akintunde Sawyerr, for their efforts in driving the critical agency.
He expressed his determination to ensure the success of the Fund and the fulfilment of the dream of higher education by indigent Nigerian students.
“The tool is available, and the hope is here; genuine, and the commitment to inclusiveness is what democracy is all about. I am fulfilling one of my greatest promises of the campaign. We are building an inclusive society. You can find many ways around any opportunity, but you cannot find a way if you are not well-educated,” Tinubu stated.
Tinubu further emphasized that education is an essential antidote to some of the challenges faced by the nation.
“We cannot even fight terrorism and banditry unless there is inclusiveness, and our people are properly educated and can invest in their own lives. I promise that we will hand a banner without stain to our children. Therefore, it is my honour to launch the portal,” he said.
In his remarks, the Chairman of NELFUND thanked the President for the privilege to serve the nation.
“I am grateful for the opportunity to be here today for Mr. President to formally launch the Nigerian Education Loan Fund (NELFUND). Mr. President, I would like to make reference to the United Nations’ Sustainable Development Goals, of which education is number four.
“The President has recognized that; hence, he inaugurated and also signed into law in February the NELFUND. We are all grateful for Mr. President’s time for inaugurating and also sanctioning the activities of NELFUND,” Mr. Ovia said.
The Managing Director of NELFUND affirmed that there were enough funds to meet the initial requests of students across the country.
“Your Excellency, at this stage, we have more than enough funding. When we start to promote properly, we might need more, but right now, we can disburse to any single person who has applied,” Mr. Sawyerr said.
He added that the portal, opened on May 25, 2024, had received 110,000 applications and more than 164,000 visits, with applications increasing daily.
President Tinubu presented cheques to some of the students and institutions that had already been processed by NELFUND.
Students are to receive stipends for their upkeep, while tuition goes directly to the institutions.
