The Tinubu Media Volunteers (TMV) has described the disbursement of N53 billion by the Nigerian Education Loan Fund (NELFUND) in less than one year as a game changer in the educational pursuits of Nigerian students.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary Shedrach Sunday, the group pointed out that the disbursement includes upkeep and institutional fees for beneficiaries.
The statement read in part, “We are gratified that so far about 497,717 students have applied for the loan and 561,174 have registered for it and out of this huge number, 88 per cent of the registrants have successfully applied for the loan.
“NELFUND was signed into law in July 2024 by President Bola Ahmed Tinubu as a way of ameliorating the financial burdens of Nigerian students. This would enable them to have access to tertiary education and pay back the loan two years after their youth service.
“It is pertinent to remind Nigerians that the programme is ongoing and remains the hallmark of President Tinubu administration’s Renewed Hope Agenda in the area of education.
“Apart from the allowance helping the students in their educational pursuits, it would also help supplement their family’s living conditions.”
TMV added that the programme is the first of its kind in the history of Nigeria’s educational development and expressed the belief that if implemented well, it will reduce the stress and hardship associated with tertiary education in the country.
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