The Federal Government has announced a March launch date for the opening of the Nigeria Education Loan Fund portal, providing an opportunity for eligible students to access financial support. Dr. Akintunde Sawyerr, the Executive Secretary of NELFund, revealed this during a recent interview in Abuja, urging eligible students to register to access the fund.
The initiative stems from President Bola Tinubu’s signing of the Access to Higher Education Bill into law on June 12, 2023, enabling indigent students to access interest-free loans for their tertiary education in Nigerian institutions. Originally slated to commence between September and October 2023, unforeseen circumstances led to a revised timeline, now set for January.
Explaining the delay in the scheme’s implementation, Mr. Sawyerr emphasized its technical nature and the necessity for proper execution. “The take-off date is this month (March), and the reason for the delay is that we are trying to get it right,” he stated, underlining the commitment to ensuring a robust and effective program.
“This is not a political program where we say, ‘oh! we are just going to do it, it doesn’t matter how it works,'” Mr. Sawyerr clarified. “This is a program that will probably run beyond me as a human being, not even as a secretary. This is something that we want to run adequately, so we have to get it right.”
Mr. Sawyerr reiterated President Tinubu’s commitment to ensuring that lack of finance does not impede any student’s education at the tertiary level. The scheme is designed to support indigent Nigerian students in tertiary institutions, with applications to be completed online.
“We have decided that all applicants should be able to access this scheme regardless of where they are, who they are and who they know,” Sawyerr explained. “We want this to be a process that is fair to all, and we will advertise the portal widely so that applicants can go to the website to fill out a series of forms and answer certain questions.”
Based on the data provided and the responses to the questions, the system will determine eligibility for applicants. This approach aims to ensure fairness and accessibility in the allocation of loans, thereby supporting students in their pursuit of higher education aspirations.
