The Nigeria Education Loan Fund (NELFund) has expanded its reach by disbursing loans to students from an additional 40 institutions, increasing the total number of benefiting institutions to 59. This milestone highlights NELFund’s commitment to ensuring that every Nigerian student, regardless of financial background, has access to quality education.
In a statement posted on its X platform, NELFund emphasised the significance of this expansion as part of its broader mission to remove financial barriers to education across the nation. The Managing Director of NELFund, Mr. Akintunde Sawyerr, stated that the initiative aims to ensure no eligible student is left behind in accessing student loans nationwide.
Mr. Sawyerr also underscored the importance of timely and accurate data submission by institutions to facilitate smooth loan disbursements. He urged participating institutions to actively engage in the scheme to ensure that students receive the financial support they need without delays.
In a related development, NELFund announced the receipt of a N2 million donation from Asiwaju Adegboyega Solomon Awomolo, a distinguished Senior Advocate of Nigeria (SAN) and former beneficiary of the defunct Federal Government Student Loan Scheme. Awomolo, who received a N1,000 loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) in the 1975/1976 and 1976/1977 academic sessions, repaid the loan in full 49 years later.
According to a press statement signed by Monalisa Dike for the Director of Corporate Communications, Awomolo’s repayment reflects his deep commitment to the nation. Despite previous attempts to repay the loan, he could only fulfill his obligation now. In his letter dated 04/09/24 to NELFund’s Managing Director, Mr. Sawyerr, Awomolo expressed gratitude to the Nigerian government for the support that enabled him to complete his law degree without financial hardship.
Awomolo also commended NELFund for its transparency and accountability in managing the current student loan scheme, praising its efforts to ensure that deserving indigent students across the country can access educational funding.