Nigerian Government Clarifies Student Loan Delay, Announces New Launch Date
The Federal Government has announced a definitive launch date for the Nigeria Education Loan Fund (NELFund) portal, scheduled for March, to facilitate access to interest-free loans for eligible students.
Dr. Akintunde Sawyerr, Executive Secretary of NELFund, revealed this in an interview with the News Agency of Nigeria in Abuja on Thursday, urging eligible students to register promptly to access the fund.
The Access to Higher Education Bill, signed into law by President Bola Tinubu on June 12, 2023, aims to provide indigent students with financial support to pursue tertiary education in Nigerian institutions. Initially slated to commence between September and October 2023, unforeseen circumstances necessitated a revised timeline, now set for January.
Explaining the delay, Sawyerr cited the technical complexities of the process, emphasizing the need for meticulous planning and execution.
“The take-off date is this month (March), and the delay is attributed to our commitment to ensuring a thorough and efficient implementation. We want to ensure that this program operates effectively, beyond the duration of any individual involved,” he stated.
Sawyerr reiterated President Tinubu’s dedication to eliminating financial barriers hindering students’ access to tertiary education in Nigeria.
The loan scheme targets indigent Nigerian students in tertiary institutions, with applications to be conducted online. Sawyerr emphasized the program’s fairness, affirming that applicants from all backgrounds would have equal opportunity to apply.
“We aim for a transparent process where applicants, regardless of their background, can access the scheme. The portal will be widely advertised, allowing applicants to fill out forms and answer questions online. Based on their responses, the system will determine their eligibility,” Sawyerr explained.
As preparations for the launch continue, the government emphasizes its commitment to ensuring equitable access to education for all eligible students, reflecting a significant step towards addressing financial challenges in tertiary education.
