Students loans is a tool to fighting poverty in the country, President Bola Tinubu says on Wednesday at the inauguration of the scheme.
Tinubu said the scheme also aligned with his administration’s commitment to inclusiveness, adding that it would be sufficiently funded.
‘Democracy is all about inclusiveness. Our target is to build a society on successful inclusiveness,’ he said.
Tinubu said that education is essential for vision, development, and successfully combating insecurity, including terrorism and banditry.
The President presented cheques to students from each of Nigeria’s six geo-political zones.
Mr Akintunde Sawyerr, the Executive Secretary of Nigerian Education Loan Fund (NELFUND), announced that N32 billion was currently available for disbursement to kickstart the programme.
He said since the portal opened on May 25, 164,000 students had registered, with 103,000 applying for loans.
‘The effect of providing this opportunity for the most needy Nigerians, the people who probably will look afte
r us, or whose decisions will impact on us in our old age, cannot be underestimated.
‘And I’m sure you’ve all heard that fortune favours the brave and this courageous move will bring fortune not just to the President, but to the entire nation,’ said Sawyerr.
Lucky Emonefe, President, National Association of Nigerian Students (NANS), said Nigerian students were happy that the loan has become a reality.
‘It was first a Bill, then an Act and today the President has launched and disbursed it. We are very proud of this. We, as Nigerian students, will call it a new dawn in the education sector.
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‘During the presidential disbursement today, you could see people applying; whatever background you belong to, you can assess the loan.
‘It is so transparent, once you apply you will get it, irrespective of your status, your age and your class.
‘And we can say that, yes, Nigerian students now have access to higher education.
‘We are proud of
this. And this is a good legacy and a good investment in the development of our dear nation. We are all excited, it is a new dawn in the education sector and we are very happy.’ Emonefe said.
Source: News Agency of Nigeria
