The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has announced the fund’s commitment to disbursing N90 billion for tuition fees and stipends.
Sawyerr announced this at a meeting with the House of Representatives Committee on Student Loans, Scholarships, and Higher Education Financing in Abuja on Wednesday, October 23, 2024.
He disclosed that NELFUND has received over 350,000 applications and has so far disbursed more than N10 billion.
According to him, NELFUND is inclusive, ensuring that every Nigerian, regardless of location or background, has access to the education they deserve.
Sawyerr emphasised that NELFUND is an institution designed to provide relief, particularly in these challenging economic times, aligning with President Bola Tinubu’s ‘Renewed Hope Agenda’.
He stated that the Fund offers not just immediate palliative relief but a long-term solution aimed at fostering stability and growth in Nigeria.
Sawyerr said: “Applications are coming in at an average of over 1,000 per day, and we are making special provisions for students with disabilities.
“We are also focused on addressing barriers to girl-child education, recognising that denying girls the opportunity for further education denies the nation the chance to benefit from their leadership potential.
“With 70 per cent of our population under the age of 35, failing to provide education for this segment exposes Nigeria to a future fraught with instability and violence, this intervention by President Tinubu could not have come at a better time.”
Sawyerr further stated that deliberate efforts are being made to proactively reach out to regions that feel left behind, particularly the South-East.
He noted that following multiple rounds of sensitisation in local communities, there has been significant progress with a surge in applications.
He, therefore, reiterated NELFUND’s commitment to working closely with the committee to achieve its goals.
“By ensuring education remains accessible and equitable, we are securing the future of millions of young Nigerians and building a stronger, more prosperous nation,” the NELFUND boss stressed.
In his remarks, the chairman of the committee, Gboyega Isiaka (APC-Oyo), described NELFUND as a critical agency.
Isiaka said the Fund is about creating a future where every Nigerian youth has the opportunity to realise their potential and contribute to national development.
