NELFund opens student loan application portal on May 24

The student loan application portal of the Nigerian Education Loan Fund (NELFUND) is scheduled to be launched on May 24, 2024, according to spokesperson Nasir Ayitogo. This initiative aims to assist Nigerian students in pursuing higher education by removing financial barriers through accessible loans. NELFUND emphasizes the user-friendly interface of the portal, encouraging eligible students to utilize it to invest in their future and contribute to national development.

This announcement is a significant milestone in President Bola Ahmed Tinubu’s dedication to promoting inclusive education in Nigeria. Tinubu signed the National Students Loan Amendment Bill into law on April 3, 2024, to financially support students in tertiary institutions. Despite the bill being initially signed in June 2023, its implementation faced various challenges.

Tinubu expressed gratitude to the National Assembly for promptly handling the bill and recognizing education as a vital tool in alleviating poverty. He emphasized the government’s determination to ensure education receives the necessary attention, enabling every Nigerian, regardless of background, to access quality education and build their future.

Following the bill’s enactment, Tinubu appointed the management team of NELFUND on April 5, 2024. Akintunde Sawyerr assumed the Managing Director/CEO role, with Frederick Oluwafemi Akinfala as Executive Director of Finance & Administration and Mustapha Iyal as Executive Director of Operations. Subsequently, Jim Ovia was appointed Chairman of the Board of NELFUND on April 26, 2024.

These developments signify a concerted effort by the government to address educational challenges and empower Nigerian students through accessible financial aid. The establishment of NELFUND and the enactment of the student loan bill demonstrate the government’s commitment to providing equal educational opportunities for all citizens, regardless of their socio-economic backgrounds.

Note

Eligible students are encouraged to utilize the portal for loan applications, which is accessible via this link