Indigents, Major Beneficiaries Of Tinubu’s Student Loans, Says TDF

The Democratic Front (TDF) has stated that the Tinubu administration’s student loan scheme compares favourably to some of the historic policies introduced in the 1960s to encourage education in certain parts of the country.

This, according to the group, is because the Nigerian Education Loan Fund (NELFUND)’s target beneficiaries are indigent students across the country who may have been denied the Indigents, Major Beneficiaries Of Tinubu’s Student Loans, Says TDF

The Democratic Front (TDF) has stated that the Tinubu administration’s student loan scheme compares favourably to some of the historic policies introduced in the 1960s to encourage education in certain parts of the country.

This, according to the group, is because the Nigerian Education Loan Fund (NELFUND)’s target beneficiaries are indigent students across the country who may have been denied the opportunity to fully realise their enormous potential.

TDF, in a statement signed by its Chairman Mallam Danjuma Muhammad and Secretary Chief Wale Adedayo, stated that the start of fund disbursement under the scheme is most pleasing, encouraging, and gratifying.

“The disbursement of N2.026 billion to six tertiary institutions for the payment of school fees, as well as the direct release of upkeep allowance to beneficiaries, heralds a new dawn in Nigeria’s educational development.

“Ever since the historic policy of free and compulsory education in the then Western Region by the late Chief Obafemi Awolowo, and the mandatory scholarship award policy by the late Sir Ahmadu Bello in the Northern Region in the 1960s, no other government has taken such a bold and deliberate step to improve the lot of indigent students as the President Bola Ahmed Tinubu administration has.

“This unprecedented move became a reality when President Tinubu made the education loan bill the priority of his presidency and the first executive order of his administration.

“For us, the speed with which he expanded the scope of the program to include vocational centres, as well as the promptness with which he signed the bill, reflected his passion and resolve to provide underprivileged students with the opportunity to attend tertiary institutions without financial constraints.

“When the current administration implemented economic reforms such as the elimination of fuel subsidies and the unification of exchange rates, many people misunderstood the policy, not realising that it was intended to free up funds for pro-people initiatives like this. The first disbursement should have cleared any doubts.

“The unprecedented response of over two million indigent students who applied for the education loan, as well as the subsequent release of over N2 billion to six tertiary institutions, has demonstrated that President Tinubu’s ongoing economic reform is not a fluke.

“In light of the understandable link between illiteracy and poverty in Nigeria, TDF is pleased to report that students from low-income families will receive the same benefits as those from affluent backgrounds. The program will dramatically reduce illiteracy-induced poverty. In Nigeria, government policy has never directly addressed this issue, as it is right now.

“It is widely recognised that quality education is expensive all over the world. The poor’s inability to afford the cost of education, particularly at the tertiary level, determines a nation’s poverty level. This is why developed countries around the world have implemented education loan policies to improve the intellectual capacity of their respective nations, thereby increasing GDP and the economy.

“We regard the President’s actions in this regard as a brave step towards increasing Nigeria’s wealth and securing the country’s future. Because poor children’s potential abilities would no longer be limited to the scope of primary and secondary education.

“We join the leadership and members of the National Association of Nigerian Students (NANS), and other youth organisations in the country, to happily welcome the President’s novel and remarkable decision to create NELFUND for the benefit of indigent students.
We also call on all NELFUND stakeholders to work together to ensure the policy’s success by rallying around President Tinubu in order to achieve the peaceful and stable socioeconomic and political purpose that it was intended to serve,” it added.

The group also noted that the President’s decision to allocate N50 billion from funds recovered by the Economic and Financial Crimes Commission (EFCC) to the fund demonstrates his willingness to see more Nigerians benefit from the scheme. to fully realise their enormous potential.

TDF, in a statement signed by its Chairman Mallam Danjuma Muhammad and Secretary Chief Wale Adedayo, stated that the start of fund disbursement under the scheme is most pleasing, encouraging, and gratifying.

“The disbursement of N2.026 billion to six tertiary institutions for the payment of school fees, as well as the direct release of upkeep allowance to beneficiaries, heralds a new dawn in Nigeria’s educational development.

“Ever since the historic policy of free and compulsory education in the then Western Region by the late Chief Obafemi Awolowo, and the mandatory scholarship award policy by the late Sir Ahmadu Bello in the Northern Region in the 1960s, no other government has taken such a bold and deliberate step to improve the lot of indigent students as the President Bola Ahmed Tinubu administration has.

“This unprecedented move became a reality when President Tinubu made the education loan bill the priority of his presidency and the first executive order of his administration.

“For us, the speed with which he expanded the scope of the program to include vocational centres, as well as the promptness with which he signed the bill, reflected his passion and resolve to provide underprivileged students with the opportunity to attend tertiary institutions without financial constraints.

“When the current administration implemented economic reforms such as the elimination of fuel subsidies and the unification of exchange rates, many people misunderstood the policy, not realising that it was intended to free up funds for pro-people initiatives like this. The first disbursement should have cleared any doubts.

“The unprecedented response of over two million indigent students who applied for the education loan, as well as the subsequent release of over N2 billion to six tertiary institutions, has demonstrated that President Tinubu’s ongoing economic reform is not a fluke.

“In light of the understandable link between illiteracy and poverty in Nigeria, TDF is pleased to report that students from low-income families will receive the same benefits as those from affluent backgrounds. The program will dramatically reduce illiteracy-induced poverty. In Nigeria, government policy has never directly addressed this issue, as it is right now.

“It is widely recognised that quality education is expensive all over the world. The poor’s inability to afford the cost of education, particularly at the tertiary level, determines a nation’s poverty level. This is why developed countries around the world have implemented education loan policies to improve the intellectual capacity of their respective nations, thereby increasing GDP and the economy.

“We regard the President’s actions in this regard as a brave step towards increasing Nigeria’s wealth and securing the country’s future. Because poor children’s potential abilities would no longer be limited to the scope of primary and secondary education.

“We join the leadership and members of the National Association of Nigerian Students (NANS), and other youth organisations in the country, to happily welcome the President’s novel and remarkable decision to create NELFUND for the benefit of indigent students.
We also call on all NELFUND stakeholders to work together to ensure the policy’s success by rallying around President Tinubu in order to achieve the peaceful and stable socioeconomic and political purpose that it was intended to serve,” it added.

The group also noted that the President’s decision to allocate N50 billion from funds recovered by the Economic and Financial Crimes Commission (EFCC) to the fund demonstrates his willingness to see more Nigerians benefit from the scheme.