The Nigerian Education Loan Fund has initiated its operational planning with the convening of the inaugural meeting of the Special Committee, slated for the program’s rollout on Monday, February 26, 2024.
Chaired by Olayemi Cardoso, Governor of the Central Bank and Chairman of the Special Committee, the meeting brought together 11 key stakeholders, including representatives from relevant Ministries, Departments, and Agencies, as stipulated in the Students Loans Act 2023. Akintunde Sawyerr, the Executive Secretary of NELFUND, serves as the Committee’s Secretary.
Governor Cardoso underscored the importance of collaborative efforts, stating, “We must use our diverse skills to ensure the success of this critical program, one of President Bola Tinubu’s signature projects.”
He emphasized the need for sustained engagement with stakeholders to facilitate a seamless implementation process.
In addressing the Committee, Cardoso further remarked, “The ongoing engagement of various stakeholders must intensify to achieve a hitch-free rollout of the scheme.”
The Students Loans Act 2023, signed into law by President Tinubu on June 12, 2023, aims to provide financial assistance to indigent Nigerian students for their tuition fees.
President Tinubu has advocated for the extension of the scheme to cover vocational training, reflecting his commitment to expanding educational accessibility.
“I pledge my commitment and support for the success of this program,” affirmed Governor Cardoso, lauding President Tinubu’s dedication to easing the financial burden of Nigerian students’ education.
With the Committee’s inaugural meeting marking the commencement of operational activities, the Nigerian Education Loan Fund, established by the Access to Higher Education Act 2023, aims to facilitate tertiary education access through loans and other productive initiatives.
