No fewer than 1.2 million young Nigerians will be in the first batch of those to benefit from the Student Loan Scheme of the Bola Ahmed Tinubu Administration.
The process of participating in the programme, whose enabling law was signed by President Tinubu on April 3, will commence “anytime soon”, according to Nigerian Education Loan Fund (NELFUND’s) Managing Director/Chief Executive Officer (MD/CEO), Mr. Akintunde Sawyer.

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.

Repayment, according to the law, will commence two years after the completion of the National Youth Service Corp (NYSC).

April 17, 2024

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