Tinubu Launches Student Loan Scheme at Aso Rock

Discover how Tinubu effectively kicks off a new student loan scheme at Aso Rock, aiming to support education in Nigeria.

With a slight modification to the Student Loan Scheme, the Federal Government has officially launched the program.

At the moment this concise report is being written, President Bola Tinubu is inaugurating a committee at State House in Abuja with the aim of propelling the Scheme forward.

The Nigerian Education Loan Fund, NELFund, has been granted approval by the President to disburse ₦35 billion through specified criteria. This will benefit 70,000 initial applicants as a means of kickstarting the programme.

During its first meeting in Abuja last month, the Governing Board of NELFund chaired by Jim Ovia – who was appointed by Tinubu -, approved loans to be disbursed among successful applicants.

During the ongoing inauguration at Villa, Tinubu is anticipated to provide terms of reference for the implementation team in order to make sure that the scheme adheres to its mandate and does not go off track.

Further information will be provided at a later time.