The Federal Government has officially launched the Student Loan Scheme following recent amendments. President Bola Tinubu is currently inaugurating a presidential committee to oversee the scheme at the State House in Abuja.
To kickstart the program, the President has authorized ₦35 billion to be allocated by the Nigerian Education Loan Fund (NELFund) based on specific criteria, targeting an initial 70,000 applicants.
Jim Ovia, appointed by Tinubu as Chair of the NELFund Governing Board, endorsed the loan disbursements during the board’s inaugural meeting in Abuja last month.
During the inauguration at the Villa, Tinubu is expected to outline the terms of reference for the implementation team to ensure the scheme stays on track.
Further details will follow shortly…
