Abuja, May 9, 2025 – The Tinubu Media Volunteers (TMV) has described the disbursement of N53 billion by Nigerian Education Loan Fund (NELFUND) as loans to students in less than one year as a game changer.
The group made the observation in a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary Shedrach Sunday, explaining that the disbursement includes upkeep and institutional fees for beneficiaries.
The statement reads is in part, “We are gratified that so far about 497,717 students have applied for the loan and 561,174 have registered for it and out of this huge number, 88 per cent of the registrants have successfully applied for the loan.
“NELFUND was signed into law in July 2024 by President Bola Ahmed Tinubu as a way of ameliorating the financial burdens of Nigerian students. This would enable them to have access to tertiary education and pay back the loan two years after their youth service.
“It is pertinent to remind Nigerians that the programme is ongoing and remains the hallmark of President Tinubu administration’s Renewed Hope Agenda in the area of education.
“Apart from the allowance helping the students in their educational pursuits, it would also help supplement their family’s living conditions.”
TMV described the programme as the first of its kind in Nigeria and expressed optimism that it will reduce the stress and hardship associated with tertiary education in the country if well implemented.
