No fewer than 261,000 students of higher institutions have benefitted from the Federal Government’s student’s loan initiative to the tune of ₦35 billion.
The Managing Director of Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr, disclosed this on Thursday, at a sensitisation programme for Edo students.
The programme was held at the Edo University Iyamoh, in conjunction with the Edo State Ministry of Education held.
Mr. Sawyerr further disclosed that NELFUND received about 520,000 registrations and about 419,000 applications adding that it has processed and paid 261,000 students both upkeep and institutional fees.
The NELFUND MD noted that the organisation have enough funds to pay Nigerian students as long as they are eligible students of any institutions in the country.
“So far we are very well funded, the political will demonstrated by Mr President to allow us access funds outside the statutory allocation is well commended.
“The law provide for us to raise funds from Non governmental quarters and I think is fair to say many Nigerians are helping students with their school fees.”
The MD said some of this NGOs are now injecting their funds into NELFUND for us to be able to deploy accordingly and many people want to give in this country but they don’t have a vehicle through which to do that.
He said NELFUND has become a channel for giving and believing that if putting the right structure in place and as long as is being honest which we are honest and transparent about how to deploy the funds.
In his remarks, the State Commissioner for Education, Dr. Emmanuel Paddy, expressed displeasure over the low number of Edo students applying for the loan.
He, however, urged students of the State to take advantage of the programme so to enable them benefit from the loan scheme.
“We have cause to be worried that is why we are having this sensitisation programme so that we can bring our people up to speed so that they can benefit from the programme which is laudable and it is going to be highly beneficial to them,” Iyamu said.
Earlier, the Acting Vice Chancellor of Edo University Iyamho, Prof. Dawood Egbefo, disclosed that 51 students of the University have benefited from the Federal Government students loan scheme.
He thanked President Tinubu for the support, growth and advancement of education in Nigeria.
“It will interest you to know that since subscribing to the NELFUND programme, the sum of ₦61.4 million have been disbursed with 51 students as beneficiaries.
“Today’s sensitisation programme servers as an opportunity for us to explore how NELFUND can continue to serve as a beacon of hope for students in Edo State.
“I encourage all participants to take full advantage of this platform so that you can maximise the benefits of this funds.
“I would like to express our deep gratitude to President Tinubu for his leadership and unwavering support for the growth of education in Nigeria, his vision for a more prosperous and well educated nation,” he said.
