The Nigerian Education Loan Fund (NELFUND) has approved the disbursement of student loans to successful applicants, marking a significant milestone in its mission to support students with financial aid.
NELFUND held its inaugural board meeting on Wednesday, led by its Chairman, Mr. Jim Ovia. The meeting resulted in the immediate approval for disbursement of student loans. This announcement was made in a statement released on the agency’s X account late Wednesday, titled “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda,” and signed by its Head of Media and Public Relations, Nasir Ayitogo.
The meeting, attended by the fund’s management and representatives of member organizations, also set the stage for future initiatives aimed at enhancing educational opportunities and supporting students across various disciplines.
Read Also:
“The meeting marked a significant milestone in the organization’s commitment to empowering students through financial support,” the statement read. “Under the leadership of the Board Chairman, Mr. Jim Ovia, top on the agenda was the approval for disbursement of student loans to successful applicants.”
This phase aligns with the presidency’s vision of improving the quality of education and making it affordable for all. “This decision underscores President Bola Ahmed Tinubu’s dedication to providing timely and essential financial assistance to students in need, enabling them to pursue their educational goals without undue financial stress,” the statement continued.
Present at the meeting were the fund’s management, led by Managing Director/CEO Mr. Akintunde Sawyerr, and representatives of member organizations.
President Tinubu had signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on April 3, 2024. Registration for the program began in May with 1.2 million students in federal tertiary institutions across the country, marking the start of the first batch.
