The President Bola Tinubu-led government has officially launched the Student Loan Scheme following recent amendments.
As of press time, the president is inaugurating a presidential committee to oversee the running of the Student Loan at the State House, Abuja.
To initiate the scheme, Tinubu approved ₦35 billion.
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The approved funds will be allocated by the Nigerian Education Loan Fund (NELFund) based on specific criteria, targeting an initial 70,000 applicants.
Jim Ovia, appointed by Tinubu as Chair of the NELFund Governing Board, approved the loan disbursements during the board’s inaugural meeting in Abuja last month.
During the inauguration at the Villa, Tinubu is expected to outline the terms of reference for the implementation team to ensure the scheme stays on track.
More details later…