Student Loans Committee Holds Inaugural Meeting Ahead of Scheme Launch
NELFUND was established following the enactment of the Access to Higher Education Act 2023 (Students Loan Act) signed into law by President Tinubu on June 12, 2023. The Act provides a legal framework for granting loans to indigent or low-income Nigerians to cover their tuition fees, thereby increasing accessibility to higher education.
AKACHI NOEL 
The Nigerian Education Loan Fund (NELFUND) is gearing up for the launch of the student loans programme, as the special committee responsible for its implementation convened its inaugural meeting in preparation for the rollout on Monday, February 26, 2024.
Chaired by Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, the 11-member Special Committee comprises representatives from various Ministries, Departments, and Agencies as outlined in the Students Loans Act. Akintunde Sawyerr, the Executive Secretary of NELFUND, serves as the Secretary of the committee.
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During the meeting, Cardoso emphasized the importance of leveraging the diverse experiences of committee members to ensure the success of the programme. He highlighted that the student loans programme is a significant project under President Bola Tinubu's administration aimed at benefiting underprivileged Nigerians.
The committee chairman also stressed the need for intensified engagement with stakeholders to ensure a smooth commencement of the scheme.
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NELFUND was established following the enactment of the Access to Higher Education Act 2023 (Students Loan Act) signed into law by President Tinubu on June 12, 2023. The Act provides a legal framework for granting loans to indigent or low-income Nigerians to cover their tuition fees, thereby increasing accessibility to higher education.
President Tinubu has advocated for the extension of the scheme to encompass Nigerians undergoing vocational training, further highlighting the administration's commitment to expanding educational opportunities for all citizens.
