• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, October 15, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Repealed Student Loan Act Was Unimplementable – Presidency

by Jonathan Nda-Isaiah
2 years ago
in News
Presidency
Share on WhatsAppShare on FacebookShare on XTelegram

The Presidency has revealed the key reasons behind the amendment of the Student Loan Act, which was signed into law by President Bola Tinubu on Wednesday, April 3, 2024, saying the initial legislation would have been difficult to implement.

Advertisement

In a statement yesterday, Special Adviser to the President on Media and Publicity, Ajuri Ngelale explained the challenges with the previous Act and the major changes introduced by the newly enacted Student Loans (Access to Higher Education) (Repeal and Re-enactment) Act, 2024.
According to the statement, the repealed Student Loan Act, 2023, had issues related to governance and management, the purpose of the loans, eligibility criteria for applicants, the method of application, repayment provisions, and recovery of the loans.

He said the new Act addresses these shortcomings comprehensively.
According to him, one of the significant amendments is the establishment of the Nigeria Education Loan Fund (NELFUND) as a corporate body with the legal capacity to enter into contracts, including loan agreements, and initiate actions to ensure repayment by beneficiaries.
He said NELFUND is empowered to provide loans to qualified Nigerians for tuition, fees, charges, and upkeep during their studies in approved tertiary academic institutions and vocational and skills acquisition institutions in the country.

Advertisement

According to him, the board members of NELFUND are drawn from relevant ministries, regulatory bodies, and participating agencies, including the Federal Ministries of Finance and Education, the FIRS, NIMC, NUC, NBTE, and NCCE, as well as representatives of universities, polytechnics, colleges of education, students of tertiary institutions, and the organised private sector.

He said the governance and management structures have been separated, with a board of directors overseeing governance and a management team led by a managing director responsible for day-to-day operations.
According to him, the board comprises representatives from relevant ministries, regulatory bodies, and participating agencies, while the President appoints the board and management.

“The resource structure of NELFUND has been clearly defined, with 1 percent of all taxes, levies, and duties collected by the Federal Inland Revenue Service (FIRS) accruing to the General Reserve Fund.
“This fund will be used to pay loans to qualified applicants and cover operational expenses.

RELATED NEWS

Ethnic Nationalities Youth Endorse Tinubu’s 2nd Term, Advocate ‘People’s Constitution’

Convicted Kano Cleric Sheikh Abduljabbar Moved To Federal Custodial Centre

Again, Troops Rescue 9 Kidnap Victims In Kogi

The Special Foundation’s Summer School Bridges Educational Gap For Underprivileged Children

“Significantly, the eligibility criteria have been revised, removing the family income threshold and guarantor requirement. Students can now apply for loans and accept responsibility for repayment, subject to application and identity verification guidelines provided by NELFUND.
“Additionally, a student’s application can no longer be disqualified based on their parent’s loan history,” he explained.

Join Our WhatsApp Channel

SendShare10172Tweet6358Share

OTHER NEWS UPDATES

Ethnic Nationalities Youth Endorse Tinubu’s 2nd Term, Advocate ‘People’s Constitution’
News

Ethnic Nationalities Youth Endorse Tinubu’s 2nd Term, Advocate ‘People’s Constitution’

1 hour ago
Man Dies After Falling Into Well In Kano
News

Convicted Kano Cleric Sheikh Abduljabbar Moved To Federal Custodial Centre

1 hour ago
Again, Troops Rescue 9 Kidnap Victims In Kogi
News

Again, Troops Rescue 9 Kidnap Victims In Kogi

1 hour ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Nigeria Takes Over G-24 Leadership, Pledges Push For Global Economic Reforms

33 minutes ago

Ethnic Nationalities Youth Endorse Tinubu’s 2nd Term, Advocate ‘People’s Constitution’

1 hour ago

Convicted Kano Cleric Sheikh Abduljabbar Moved To Federal Custodial Centre

1 hour ago

Kenyan Opposition Leader Raila Odinga Dies In India

1 hour ago

LP Faction Accuses INEC Of Flouting Supreme Court Judgement By Dealing With Abure

1 hour ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.