NELFUND Disbursement Of N53bn Sparks Celebrations Among Students As TMV Hails ‘Game Changer’

The Tinubu Media Volunteers (TMV) have hailed the Nigerian Education Loan Fund (NELFUND)’s disbursement of N53 billion in less than a year as a “game changer” for Nigerian students pursuing higher education.

The TMV emphasised in a statement issued on Monday and signed by Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday that the disbursement for beneficiaries includes both upkeep allowances and institutional fees.

“We are pleased that approximately 497,717 students have applied for the loan and 561,174 have registered for it, with 88% of the registrants successfully applying,” the statement read.

The Nigerian Education Loan Fund (NELFUND), signed into law by President Bola Ahmed Tinubu in July 2024, aims to alleviate Nigerian students’ financial burdens by providing them with access to tertiary education.

Repayment of the loan will begin two years after completing the mandatory National Youth Service Corps (NYSC) program.

The TMV statement also stated that the program is ongoing and remains a cornerstone of the Tinubu administration’s Renewed Hope Agenda in the education sector.

“It is important to remind Nigerians that the programme is still ongoing and remains the centrepiece of President Tinubu’s Renewed Hope Agenda in education,” the group stated.

“Aside from assisting students with their academic pursuits, the allowance would also help supplement their family’s living conditions.”

The TMV emphasised the NELFUND program’s groundbreaking nature, describing it as the first of its kind in Nigerian educational history.

They expressed confidence that, with proper implementation, the initiative will significantly reduce the financial strain and hardship that are frequently associated with pursuing tertiary education in the country.