By Seyi Babalola
The Nigerian government reports that over 30,000 students have successfully enrolled for its loan scheme just seven days after the portal’s introduction on May 24, 2024.
The Managing Director of the Nigerian Education Loan Fund, Akintunde Sawyerr, revealed this in Abuja on Thursday while providing an update on the initiative.
Sawyerr stated that the approximately 30,000 pupils who successfully applied are presently undergoing approval examination.
The MD disclosed that applications for state higher education loans would be accepted beginning June 25th, 2024.
According to him, the plan goes beyond giving financial aid to students and instead equips young people with employable skills.
He stated that NELFUND will begin a comprehensive skills acquisition initiative in a variety of vocational and technical disciplines.
“Beyond financial assistance, NELFUND recognizes the profound importance of equipping our youth with practical, market-relevant skills.
“Six months from today, we will launch a comprehensive skills acquisition program, providing training in various vocational and technical fields.
“This program is designed to prepare students to meet the demands of the modern job market, fostering entrepreneurship and innovation among our young people.
“Sixty thousand are those who have registered on the platform. About 30,000 have successfully applied for the loan but that does not mean the 30,000 have been approved. Up until this point, nobody has been given the loan. Now is the time for evaluation.
“The overwhelming response serves as a testament to the critical need for financial assistance among our student population, and we remain committed to addressing this urgent demand,” he said.