Mr. Akintunde Sawyerr, the Managing Director and Chief Executive Officer of the Nigerian Education Loan Fund, on Wednesday, announced that since the launch of the program in August 2024, the fund has successfully distributed over N10 billion to applicants.
He addressed the concerns raised by some that the student loan program might be biased against certain applicants.
He expressed this on Wednesday at the inaugural meeting between NELFUND and the House of Representatives Committee focused on Student Loans, Scholarships, and Higher Education Financing, held at the National Assembly Complex in Abuja.
Sawyerr confidently assured the committee that the fund had made efforts to connect with all regions of the country, with particular attention to the South-East, which had previously expressed concerns about being marginalized.
“So far, the fund has received over 350,000 applications and disbursed over N10bn with a commitment to disbursing N90bn in tuition fees and stipends.
“Applications are coming in at an average of over 1,000 per day, and we are making special provisions for students living with disabilities.
“Moreover, we are focused on addressing the barriers to girl-child education, recognising that denying girls the opportunity for further education is denying the nation a chance to benefit from their incredible leadership potential.
“With 70 per cent of our population under the age of 35, failing to provide access to education for this segment exposes Nigeria to a future fraught with instability and violence. This intervention by President Bola Tinubu could not have come at a better time,” he said.
