Following a recent amendment to the Student Loan Scheme, the Federal Government has officially launched the program.
President Bola Tinubu is currently inaugurating a presidential committee to oversee the Scheme at the State House in Abuja. To initiate the program, the President approved ₦35 billion to be distributed through specific criteria by the Nigerian Education Loan Fund (NELFund), targeting 70,000 initial applicants.
Jim Ovia who was appointed by Tinubu to Chair the Governing Board of NELFund had approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.
At the ongoing inauguration, Tinubu is expected to provide the implementation team with terms of reference to ensure the scheme remains on track.
