Tinubu orders expansion of student loan to cover those interested in skill growth

President Bola Tinubu has ordered the management of the Nigeria Education Loan Fund (NELFUND) to extend interest-free loans to students interested in skill-development programmes.

The president gave the directive after the Executive Secretary of NELFUND, Mr. Akintunde Sawyerr, briefed on the preparation for the launch of the programme later in the month.

He said it was important for the scheme to accommodate those interested in skill acquisition which was equally important as academic qualifications.

Tinubu said: “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas. This is not only for those who want to be doctors, lawyers, and accountants.

“It is also for those who aspire to use their skilled and trained hands to build our nation. By this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education.”

He stressed the need for equity and inclusivity in the management of the programme, saying all economically challenged students must not be denied education at any level.

“No matter how economically challenged you are, accredited and qualified students will and must have access to this loan to advance their education in higher institutions. There is no compromise in our commitment to the disadvantaged citizens of this nation,” the president added.

In his earlier remark, Sawyerr said the loan application process would be technology-driven to eliminate any possibility of maladministration in the programme.

“By design, this is a perpetual programme and will not terminate. The funds, earmarked for bonafide Nigerian students, will be disbursed directly to the institutions in the initial phase through electronic transfer.

“Our students will be catered to in a way that bypasses human interference through the full utilization of available technological platforms,” the NELFUND chief added.

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