President Bola Tinubu says the provision of loans to students will encourage more people to seek knowledge, go for higher education, and become valuable contributors to national development.
Tinubu, who launched the digital NELFUND disbursement exercise at the Presidential Villa in Abuja on Wednesday, July 17, 2024, said 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 also expressed his determination to ensure the success of the Fund and the fulfillment of the dream of higher education by indigent Nigerian students, saying: “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 described education as an essential antidote to some of the challenges faced by the nation, adding: “We cannot even fight terrorism and banditry unless there is inclusiveness, and our people are properly educated and can invest in their own lives.
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“I promise that we will hand a banner without stain to our children. Therefore, it is my honour to launch the portal.”
President Tinubu, who presented cheques to some of the students and institutions processed by NELFUND, therefore, commended the Chairman of the Fund, Jim Ovia, and the Managing Director, Akintunde Sawyerr, for their efforts in driving the critical agency.
In his remarks, Ovia thanked the president for the privilege to serve the nation.
On his part, Sawyerr said 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,” he said.
Sawyerr added that the portal was opened on May 25 and had so far received 110,000 applications, with more than 164,000 visits; noting that the applications have been increasing daily.
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