Connect with us

Education

FG Launches Pilot Phase of Interest-Free Student Loan Scheme for Federal Institutions

Published

on

The Nigerian Education Loan Fund (NELFUND) has announced that the pilot phase of its student loan scheme will be exclusively available to students of federal tertiary institutions. This initiative, part of President Bola Tinubu’s broader educational reforms, aims to provide interest-free loans to students in need.

Initially enacted in June 2023, the student loan policy faced several delays before its re-enactment in April 2024. NELFUND has now scheduled the opening of the loan application and issuance portal for May 24, signaling the commencement of this much-anticipated program.

To apply for the loan, students must present their admission letter, national identification number, and bank verification number. Akintunde Sawyerr, the managing director of NELFUND, provided further details during a pre-application sensitization conference held on Monday in Abuja.

“The loan scheme is designed to provide financial assistance for obligatory fees and stipends to needy students,” Sawyerr stated. The pilot phase is specifically targeted at students in federal universities, polytechnics, colleges of education, and technical schools that have completed and uploaded their student data.

Sawyerr emphasized that the loan application process has been streamlined to ensure easy access for all eligible students. “The application process has been designed to eliminate physical contact between the applicant and NELFUND, ensuring a seamless and efficient experience,” he said.

The user-friendly portal simplifies the loan application process with an intuitive design that allows for quick navigation. Additionally, it includes an online support mechanism to assist students with any questions or concerns during the application process. Sawyerr stressed that the student loan scheme remains interest-free and offers flexible repayment options. Repayment is scheduled to begin two years after the completion of the National Youth Service Corps (NYSC), provided the individual has secured employment.

NELFUND’s initiative represents a significant step towards making higher education more accessible to Nigerian students. By focusing on federal institutions in its pilot phase, the program aims to fine-tune its operations and ensure the smooth implementation of the loan scheme nationwide in the future. This move is expected to alleviate financial burdens on students, enabling them to focus more on their studies and contribute positively to Nigeria’s development.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Abuja Reports

Atoyebi Adewumi Wins 4th National Essay Competition, Beats 2,000 Contestants

Published

on

By

By Samson Adeyanju

Atoyebi Adewumi has emerged winner of the fourth edition of the National Essay Competition, beating more than 2,000 contestants in an intellectual contest aimed at promoting academic excellence, critical thinking and creative writing among young Nigerians.

The competition, which focused on the relevance of taxation to national development, challenged participants to examine the role of tax revenue in financing public services, stimulating economic growth and strengthening the relationship between government and citizens.

The initiative provided a platform for young Nigerians to demonstrate their writing skills, articulate informed perspectives on national issues and contribute ideas towards building a more responsible and progressive society.

Speaking after being declared winner, an elated Adewumi expressed gratitude to the convener, Foluso Sylvanus Ojo, and the organising team for providing young Nigerians with an opportunity to showcase their intellectual abilities.

“I am so glad, very, very glad, to have this privilege of emerging as the winner. I am grateful to the convener and the entire team, as well as everyone who supported this vision,” Adewumi said.

In his remarks, Ojo expressed concern over the tendency to criticise the attitudes and lifestyles of younger generations without providing adequate opportunities to nurture their talents and channel their energies towards productive pursuits.

He called on the government, corporate organisations and nongovernmental organisations to invest more in educational initiatives that promote intellectual excellence, creativity and responsible citizenship.

According to him, sustained investment in academic competitions and youth development programmes would encourage discipline, innovation and a stronger commitment to national development.

Drawing a comparison with the substantial cash prizes awarded in some reality television competitions in Nigeria, Ojo argued that students and intellectually gifted young Nigerians deserved greater recognition, financial support and encouragement.

“I believe the government should support initiatives like this because individuals need supportive hands, especially from the government. When they receive such support, they become more confident and motivated to continue their good work,” he said.

Ojo maintained that society could not continue to complain about the attitudes and lifestyles of young people without deliberately investing in programmes that encourage positive values and productive engagement.

The fourth edition of the competition also underscored the importance of tax awareness among young Nigerians, highlighting how effective taxation, transparency and accountable governance could contribute to improved infrastructure, education, healthcare and other essential public services.

Beyond celebrating the winner, the competition reinforced the need to identify, encourage and empower emerging intellectual talents capable of contributing meaningfully to Nigeria’s development.

Winner of the 5,000,000 naira

Winner of 3,000,000 naira

Winner of 2,000,000

All the participants 

Continue Reading

Abuja Reports

20 Finalists Begin Final Stage of National Essay Competition

Published

on

By

By Samson Adeyanju

Twenty finalists from across Nigeria have begun the final stage of the fourth edition of the National Essay Competition in Abuja, following an orientation session designed to prepare them for the decisive examination.

The finalists arrived in the Federal Capital Territory for a four-day, all-expenses-paid programme featuring the essay examination, institutional tours and opportunities for learning and networking.

The competition, the brainchild of Mr Foluso Ojo, is sponsored by the Nigeria Revenue Service (NRS).

Ahead of the examination, the finalists participated in an orientation session led by Professor Omotosho Borisade of Ekiti State University, who serves as the competition’s umpire.

The session familiarised participants with the competition’s rules and regulations, examination guidelines and assessment criteria, helping them understand the requirements of the final stage.

The essay examination is scheduled to begin today at 9 a.m., after which the finalists are expected to embark on institutional tours around Abuja.

The programme is designed to extend beyond the contest itself, exposing the finalists to new learning opportunities, professional connections and experiences in the nation’s capital.

The competition brings together young Nigerians to demonstrate their writing ability, knowledge, creativity and critical-thinking skills as they compete for the top honours.

With the finalists prepared for the examination, attention now turns to their performance and the eventual emergence of the competition’s champion.

 

Continue Reading

Education

Oyelami Named Acting CEO of National Mathematical Centre

Published

on

By

By Omoniyi David

The Federal Government has appointed Professor Oyelami as Acting Chief Executive Officer of the National Mathematical Centre with immediate effect.

The appointment was announced in a statement by the centre’s Controller of Information and Public Relations, Onyekachi Njoku. He said the decision followed the elevation of the former CEO, Promise Mebine, as Vice-Chancellor of the Federal University Otuoke.

Njoku disclosed that the approval was conveyed in a letter signed by Rakiya Ilyasu, Director of University Education at the Federal Ministry of Education.

Professor Oyelami, a mathematician who joined the centre over two decades ago from Abubakar Tafawa Balewa University, previously served as Coordinator of the Mathematics and Theoretical Physics programmes and as Deputy Director/Academic Planning Coordinator.

An alumnus of the University of Jos and Abubakar Tafawa Balewa University, he holds a Second-Class Upper degree, MSc and PhD in Mathematics and has published widely in local and international journals.

The centre said his appointment would strengthen its mandate to promote research, innovation and capacity building in mathematical sciences.

Continue Reading

Trending