The Federal Government has announced that the portal for the Nigeria Education Loan Fund (NELFund), catering to eligible students, is set to open in March.
Akintunde Sawyer, the Executive Secretary of NELFund, revealed this during an interview in Abuja, encouraging eligible students to register for access to the fund.
The initiative stems from President Bola Tinubu signing the Access to Higher Education Bill into law on June 12, 2023.
This bill aims to provide interest-free loans to indigent students pursuing education in Nigerian tertiary institutions.
Originally slated to commence between September and October 2023, unforeseen circumstances prompted a revised timeline to January.
Sawyer addressed the delay, attributing it to the technically driven nature of the process, with essential measures being implemented for proper execution.
Emphasizing President Tinubu’s commitment, Sawyer stressed that the scheme aims to eliminate financial constraints as a reason for any Nigerian student to discontinue tertiary education.
The scheme specifically targets indigent Nigerian students in tertiary institutions, and applications will be conducted online.
Additionally, Sawyer outlined that the recovery process from NELFund beneficiaries would commence two years after the completion of the National Youth Service Scheme.
This multifaceted approach underscores the government’s dedication to facilitating accessible education and supporting students in their pursuit of higher learning.