Federal Govt Disburses N303bn Student Loans To 850,000 – NELFUND

The Federal Government has disbursed over N303 billion to beneficiaries of the Nigerian Education Loan Fund (NELFUND) in public tertiary institutions across the country in the last two years.

The managing director of NELFUND, Mr. Akintunde Sawyerr, disclosed this in Lafia, Nasarawa State, during the North Central edition of the Renewed Hope Student Leaders Engagement and Digital Acceleration Programme.

Sawyerr said the fund has so far received 1.5 million applications, out of which 850,000 students have benefited. Data from the Fund’s dashboard, however, shows that total disbursement has hit N303.91 billion to 1,635,676 students nationwide.

He said NELFUND remains one of the major youth-focused interventions of the President Bola Ahmed Tinubu administration, aimed at expanding access to tertiary education and easing the financial burden on families.

According to him, Nigeria’s future depends on how effectively young people are equipped with relevant skills and supported to embrace entrepreneurship and innovation.

He said, “The Nigerian Education Loan Fund is designed to provide opportunities for students from different backgrounds to pursue their education and acquire the knowledge and skills required to secure their future.”

Sawyerr urged students to take advantage of opportunities in the digital economy to become productive and self-reliant.

Also speaking at the occasion, the Minister of Education, Dr. Tunji Alausa, represented by the Director of University Education, Dr. Kareem Lateef, said the Federal Government was committed to youth development through skills and innovation.

He listed agriculture, skills acquisition and the digital economy as critical sectors where young Nigerians can explore opportunities for self-reliance.

Earlier, the Senior Special Assistant to the President on Students’ Engagement, Comrade Sunday Asefon, said the engagement, themed “Empowering Students with Digital Skills and Innovation,” was part of deliberate policies of the Tinubu administration to provide support and equal opportunities for Nigerian students.

He said government was working to ensure students pursue their education without disruptions while acquiring skills that would enhance their employability after graduation.

The vice-chancellor of the Federal University of Lafia, Professor Mohammed Isa Kida, in his goodwill message, described the programme as a student-centred intervention capable of promoting stability in the university system.

He called for measures to sustain the initiative and advised students to diversify their skills in technology and entrepreneurship to contribute to national development.

Our correspondent reports that laptop and other digital equipment were presented to beneficiaries during the event.