The Student Loan Scheme, recently launched by the Federal Government after amendments, has been officially inaugurated. President Bola Tinubu, at the State House in Abuja, is currently establishing a presidential committee to oversee its implementation.
To kickstart the initiative, President Tinubu has sanctioned the allocation of ₦35 billion through the Nigerian Education Loan Fund (NELFund), which will be distributed based on specific eligibility criteria, targeting an initial cohort of 70,000 applicants.
Jim Ovia, appointed by President Tinubu as the Chair of the NELFund Governing Board, has already greenlit the disbursement of loans during the board’s first meeting held in Abuja last month.
President Tinubu is expected to outline the terms of reference for the implementation team during the inauguration ceremony at the Villa, ensuring rigorous oversight and smooth operation of the scheme.
Stay tuned for further updates…
