The distribution of student loans to qualified applicants has been approved by the Nigerian Education Loan Fund.
On Wednesday, NELFUND held its first-ever board meeting, a significant step forward in its goal of providing financial aid to students.
Under the leadership of its Chairman, Mr Jim Ovia, the board approved the immediate disbursement of student loans to successful applicants.
A late Wednesday statement obtained from the agency’s X account revealed this.
“NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda” was the headline of the press release.
It was signed by its Head, Media and Public Relations, Nasir Ayitogo.
The management of the fund and representatives from member organizations attended the meeting, which also set the framework for upcoming projects aimed at improving educational opportunities and assisting students in a variety of subject areas.
The press release was titled, “NELFUND Holds Inaugural Board Meeting as Student Loan Disbursement Tops Agenda.”
It was signed by its Head, Media and Public Relations, Nasir Ayitogo.
The meeting, attended by the fund’s management and representatives of member organisations, also laid the groundwork for future initiatives to enhance educational opportunities and support students across various disciplines.
The approval of the loans by NELFUND signifies a step towards empowering the next generation of leaders through education.
The statement read, “The Nigerian Education Loan Fund (NELFUND) on Wednesday, June 26, 2024 held the inaugural meeting of its board in Abuja.
“The meeting marked a significant milestone in the organisation’s commitment to empowering students through financial support.
“Under the direction of Board Chairman Mr. Jim Ovia, approving the distribution of student loans to qualified applicants was at the top of the agenda.”
The statement claims that this stage is in line with the president’s goal of raising the standard of education and lowering its cost for all.
“This decision demonstrates President Bola Ahmed Tinubu’s commitment to giving financially disadvantaged students timely and necessary support so they can pursue their academic objectives without experiencing undue financial hardship.
“NELFUND is making a significant contribution to the realization of its goal of empowering the next generation of leaders and promoting education by authorizing the loans’ immediate disbursement.
“Also present at the meeting were the management of the fund led by the Managing Director/CEO, Mr Akintunde Sawyerr and representatives of member organisations,” it concluded.
Tinubu had on April 3, 2024, signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.
1.2 million students in federal tertiary institutions across the nation registered for the program in May, marking the first batch of participants.
