In a significant move towards equitable education, President Bola Tinubu has officially launched the digital disbursement process for the Nigerian Education Loan Fund (NELFUND). The ceremony, held at the State House, marked a pivotal step in ensuring higher education accessibility for Nigerian students by eliminating financial barriers.
President Tinubu emphasized the transformative power of education, describing it as the most potent weapon against poverty. "Education is the greatest weapon against poverty. Without education, there is no vision; without education, there will be no development; without education, you cannot successfully conquer poverty, insecurity, and abuse in society," he stated. He further highlighted the importance of education in addressing societal challenges, including terrorism and banditry.
The President commended Mr. Jim Ovia, Chairman of NELFUND, and Mr. Akintunde Sawyerr, the Managing Director, for their dedication to this critical initiative. He expressed his commitment to fulfilling the campaign promise of building an inclusive society where every Nigerian student has the opportunity to pursue higher education.
The launch of NELFUND's digital disbursement portal has already shown promising results, with over 110,000 applications received since its opening on May 25, 2024. Mr. Sawyerr assured that there are ample funds to meet the initial demands, with a focus on ensuring equitable distribution across the country's six geo-political zones.
The ceremony concluded with President Tinubu presenting cheques to some students and institutions already processed by NELFUND, symbolizing the tangible impact of this initiative. Students will receive stipends for their upkeep, while tuition fees will be directly disbursed to educational institutions.
This launch signifies a crucial advancement in Nigeria's educational landscape, fostering inclusiveness and setting a foundation for a brighter future.
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