By Abdulfatah Babatunde
The Tinubu Stakeholders Forum (TSF) has praised the recent achievements of the Nigerian Education Loan Fund (NELFUND) in facilitating access to higher education for students across Nigeria.
TSF specifically noted NELFUND’s disbursement of a total of N84.2 billion as of September 2024, enabling 258,943 students to pursue their academic dreams.
TheNewsZenith reports that those disbursements included N27.5 billion allocation for institutional facilities and N56.7 billion for upkeep support.
These funds have significantly reduced financial barriers for students, ensuring a smoother path to quality higher education.
TSF Chairman, Ahmad Sajoh and Secretary Josiah Afolabi gave the commendation in a statement emailed to TheNewsZenith on Thursday, in Lagos.
It noted the highlight of the House of Representatives Committee Chairman on Polytechnic and Higher Technical Education, Gboyega Isiaka, on the remarkable progress of NELFUND.
TSF quoted isiaka as making the highlight during the 36th annual conference of the Federal Government College, Maiduguri Old Students Association, in Abeokuta.
“The resuscitation of student loans, which began in 1972, but was later suspended, is a game changer. It can widen Nigerians’ access to affordable and qualitative higher education,” TSF further quoted Isiaka as saying.
Isiaka also noted that as of the end of September, NELFUND made tremendous progress under President Bola Ahmed Tinubu’s administration.
“It is paving the way for a brighter future for our nation’s students.”
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Meanwhile, TSF noted that the Students Loan Access to Higher Education Act of 2024 has brought critical reforms to the loan application process.
“It is eliminating previous barriers such as guarantor requirements and family income thresholds.
“This reform has enabled eligible Nigerian students to apply for loan.
It is emphasizing the importance of personal responsibility for loan repayment.
Repayments are set to begin, two years after a student loanee complete the National Youth Service Corps (NYSC). There is also provisions for extensions based on unemployment status.
The TSF recognised that the success of NELFUND was more than just a reflection of impressive figures.
“It symbolises hope, opportunity, and a steadfast commitment to empowering the next generation of Nigerian leaders.
“By bridging financial gaps and expanding access to education, NELFUND is laying the foundation for a stronger and more prosperous Nigeria,” TheNewsZenith quotes TSF as further stating.
It called on all stakeholders in the education sector to continue supporting NELFUND’s initiatives, as this aligns with President Tinubu’s vision of nurturing a knowledge-based society.
“We believe that the sustained support of the federal government and stakeholders will ensure the long-term success of the program, thereby fostering national development through education.’’
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