The MD/CEO of the Nigerian Education Loan Fund, Akintunde Sawyerr, said the portal for the students’ loan scheme has received over 110, 000 loan applications so far.
This is against the target of 70,000 initial targets and N35 billion approval for initial take off by President Bola Tinubu few week ago.
Despite this, President Bola Tinubu has formally launched the Nigerian Education Loan Fund (NELFund) in the council chamber of state House.
The inauguration was attended by the leadership of the National Assembly, the Secretary to the Government of the Federation, some ministers, heads of agencies, and members of the board and management team of the Nigerian Education Loan Fund led by the board chairman, Jim Ovia.
After launching the portal, President Tinubu handed out symbolic cheques to students and some institutions.
Jim Ovia had approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.
The student loan scheme seeks to provide financial support, including school fees and stipends, to eligible students nationwide. Over 1.2 million students are expected to benefit from the first phase of the programme.
