The Federal Government has officially announced March as the confirmed launch month for the Nigeria Education Loan Fund (NELFund) portal, aimed at providing financial assistance to eligible students.
The revelation came from Akintunde Sawyerr, the Executive Secretary of NELFund, during an interview with journalists in Abuja on Thursday. Sawyerr urged eligible students to register promptly to access the fund.
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President Bola Tinubu had signed the Access to Higher Education Bill into law on June 12, 2023, to facilitate interest-free loans for indigent students pursuing education in Nigerian tertiary institutions.
While the scheme was initially slated to commence between September and October 2023, unforeseen circumstances led to a revised timeline to January. Sawyerr clarified that the delay in the launch was due to the technical nature of the process, necessitating meticulous preparation for a seamless execution.
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Sawyerr reiterated President Tinubu’s commitment to ensuring that financial constraints should not hinder any student in Nigeria from pursuing tertiary education.
The loan scheme is designed to support indigent Nigerian students in tertiary institutions, and applications will be exclusively online to ensure a transparent and equitable process.
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“The take-off date is this month (March), and the reason for the delay is that we are trying to get it right. This is not a political program where we say, ‘We are just going to do it; it doesn’t matter how it works,'” Sawyerr explained.
Highlighting the longevity and significance of the program, Sawyerr emphasized the need to run it adequately, ensuring fairness to all applicants. The process aims to be inclusive, allowing applicants from diverse backgrounds to access the scheme without bias.
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“We want this to be a process that is fair to all, and we will advertise the portal widely so that applicants will be able to go to the website to fill out a series of forms and answer certain questions,” Sawyerr stated.
The system will then assess the data provided and answers to determine eligibility appropriately. As the country awaits the launch of the NELFund portal, this initiative seeks to address financial barriers to education and pave the way for an inclusive and accessible tertiary education system in Nigeria.
