President Bola Ahmed Tinubu has commended the management of the Nigerian Education Loan Fund (NELFUND) for expanding access to higher education through the successful implementation of the Federal Government’s Student Loan Scheme.
The President gave the commendation on Wednesday while receiving the Chairman of NELFUND, Mr. Jim Ovia, and the Managing Director/Chief Executive Officer, Mr. Akintunde Sawyerr, during a meeting in Abuja.
Tinubu praised the agency’s leadership for the progress recorded since the launch of the initiative, describing the student loan programme as a major intervention that is helping young Nigerians pursue higher education without the financial barriers that have prevented many from continuing their studies.
He particularly acknowledged the efforts of Sawyerr in driving the implementation of the scheme, noting that the programme is already making a meaningful impact on the lives of students across the country.
According to figures presented during the meeting, NELFUND has so far disbursed more than ₦303 billion in interest-free student loans, with over 1.64 million Nigerian students benefiting from the initiative.
The development marks one of the largest education financing interventions in the country’s history and is aimed at ensuring that qualified students are not denied access to tertiary education because of financial challenges.
The Student Loan Scheme is a key component of the Tinubu administration’s Renewed Hope Agenda, which seeks to improve access to education, strengthen human capital development and create greater opportunities for Nigerian youths.
The latest milestone underscores the Federal Government’s commitment to making higher education more affordable while investing in the country’s future workforce.