FGN: Over 495,000 Students Benefits From NELFUND

Songbux News Desk Report

The Federal Government has announced a major milestone in its social investment agenda, claiming that Over 495,000 Students Benefits From NELFUND which is the student loan scheme, a flagship initiative of President Bola Tinubu’s administration, has now benefited over half a million Nigerian students.

Sources close to the government’s National Education Loan Fund (NELFUND) suggest the tally of beneficiaries, students in public tertiary institutions who have successfully accessed the interest-free loans, has recently crossed over 495,000 mark. The claim, if accurate, signals a substantial rollout of the scheme which aims to break down the financial barriers preventing indigent students from accessing higher education.

The student loan programme was conceptualized to be a game-changer for financially disadvantaged families. By covering tuition fees and providing an allowance for upkeep, the scheme intends to remove money as a reason for young Nigerians to abandon their academic dreams. This latest update positions the policy as one of the most impactful social interventions launched by the current administration.

While the figures are robust, the sheer scale of tertiary enrollment in Nigeria suggests the demand for educational financing remains immense. Observers note that the success of the scheme will ultimately be measured not only by the number of students who benefit but also by the sustainability of the fund and the efficiency of its repayment structure, which is designed to kick in two years after the completion of the National Youth Service Corps (NYSC) program.

This latest claim from the Tinubu administration underscores an ongoing commitment to human capital development, prioritizing education as a crucial tool for long-term economic growth and poverty eradication. FOR MORE INFORMATION, I RECOMMEND SONGBUX.