By Seyi Babalola
The Nigerian government expects 250,000 to 300,000 students at higher institutions to benefit from its Student Loan Scheme by 2024.
Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), confirmed this in an interview with Channels Television on Monday.
Sawyerr stated that the N60 billion money loan program can support two million Nigerian students at various higher education institutions across the country.
He explained that the facility is open to only those already in higher institutions.
“Currently today in tertiary institutions across the board including the private sector, there are about 2 million people. This loan is open to those who are already in the institutions. This is not about those coming in only. This is about if you apply for a loan today, for the next session, you will get it.
“Arguably, we can give everybody a loan. The funds are available to make for us to cover those sorts of numbers over time.
“This year we expect to have 250 to 300,000 applicants from the academic side. We are going to have less than that for the vocational side because we are just kicking that process off,” Sawyer said.
