NELFUND Receives 350,000 Applications,Disburses N10bn

      Mohammed Shosanya

The Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND),says his agency has so far received over 350,000 applications and disbursed more than N10 billion to Nigerian students.

 He added that NELFUND has committed to disbursing N90 billion in tuition fees and stipends to further support beneficiaries.

He spoke on Wednesday during a maiden meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing.

According to him, “Applications are pouring in at an impressive rate of over 1,000 per day, with special provisions being made for students living with disabilities. We are also committed to tackling the barriers to girl-child education, as denying girls the opportunity for further education is tantamount to denying the nation the chance to harness their remarkable leadership potential.”

He emphasized that the Fund is an institution established to provide relief to ordinary citizens, particularly during these challenging economic times, in alignment with President Bola Tinubu’s Renewed Hope Agenda.

This initiative is not merely a short-term palliative but a comprehensive solution aimed at fostering stability and growth in Nigeria’s diverse landscape.

“This administration, led by President Bola Ahmed Tinubu, has introduced several commendable policies, among which the student loan initiative stands out. It is making an impact across all regions of the country, East, West, North, and South.”

“This policy is not discriminatory; it is inclusive, ensuring that every Nigerian, regardless of location or background, has access to the education they deserve.

“It is akin to monumental policies such as the free education program of Chief Obafemi Awolowo, the establishment of the National Youth Service Corps (NYSC) by Gen Yakubu Gowon, and the creation of federal universities.

“These policies have shaped Nigeria’s development, and the student loan initiative is equally progressive, representing an investment in our nation’s future.

“We have also been proactive in reaching out to segments of the nation that feel left behind- particularly the South East. I am pleased to report that my team and I have made significant progress in engaging these communities, with multiple rounds of sensitization in the region, resulting in a surge in applications,” he said .

He further said the Fund is committed to working closely and harmoniously with the committee.

Sawyerr said it is only through cooperation and peaceful collaboration can they achieve the best possible outcomes for Nigeria and its students.

“In this regard, NELFUND will also be working closely with the National Assembly in the area of sensitization, recognizing that you are closest to the people and best positioned to reach your constituents.

“A comprehensive work plan will be developed to guide our efforts, ensuring that we engage effectively at all levels to make certain that no student is left behind.

“One of the steps we have taken to strengthen our partnership is the upcoming retreat for the joint committee in the first week of November. This retreat will provide us with the opportunity to interface and sensitize lawmakers on our activities and objectives.

“It will also allow us to gain a deeper understanding of the workings of the National Assembly and the peculiar needs of various constituencies across the country. This collaboration is crucial in shaping a student loan system that truly serves the interests of all Nigerians.

“As we continue to work together, let us remember that our collective goal is the good of Nigeria and its youth. By ensuring that education remains accessible and equitable, we are not only securing the future of millions of young Nigerians, but we are also building a stronger, more prosperous nation,” he said.

Chairman of the Committee, Hon Gboyega Isiaka, said NELFUND is a very critical agency created not only to provide loans, but it’s about creating a future where every Nigerian youth has the opportunity to realise their potentials and contribute to the nation’s growth.

He said the Committee was concerned about the ability of the management to manage the enterprise, which has so much potential.

“Therefore, as we progress into proper oversighting of this institution, we are going to be concerned with so many things. We want, for example, to be able to tell ourselves where will NELFUND be within the next three to five years? How is it going to get there? And what are the issues that we need to address in order for them to get there?” he said.

He said the Committee was committed to ensuring accountability and transparency of the Fund.

“As a committee, we are committed to fulfilling our responsibilities in alignment with the directives from the Speaker and the House leadership. Our goal is to collaborate closely with the executive branch, as well as the management and board of this company, to ensure that the objectives for its establishment are realized.

“We also expect to operate within the confines of the law, ensuring that we address the aspirations and expectations of the Nigerian people, particularly the youth,” he stated.