Students in Federal Government-owned tertiary institutions will be the first batch of beneficiaries of the student loan scheme.
The portal opens on Friday.

Chief Executive Officer of Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, stated this yesterday while unfolding the conditions would-be beneficiaries will be required to meet.

No fewer than 1.2 million students are expected to benefit from the cardinal programme of the Bola Ahmed Tinubu Administration.

President Tinubu on April 3 signed into law the bill on the scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.

The ambitious cardinal programme will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).

This year, the revenue target given to the FIRS is N19.4 trillion.
Should the agency meet this projection, N194 billion will be available as a loan to the beneficiary students.

May 21, 2024

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