The Nigerian government has announced that the portal for the application of student loan will be open on May 24, 2024.
This was confirmed in a statement issued by the Nigerian Education Loan Fund (NELD) media lead, Nasiru Ayantogo on Thursday night, April 16, 2024.
According to him, the opening of the application portal marks a significant milestone in the commitment of President Bola Tinubu to “fostering accessible and inclusive education for all Nigerian students.”
Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
The portal, according to the statement, provides a user-friendly interface for students to submit their loan applications conveniently.
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“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.
“Students can access the portal on www.nelf.gov.ng to begin application,” the statement said.
On June 12, 2023, President Bola Tinubu signed the Access to Higher Education Act, 2023 into law, enabling indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution.
This initiative fulfilled one of Tinubu’s campaign promises to liberalise the funding of education, as noted by Dele Alake, a member of the Presidential Strategy Team.
The Act, commonly referred to as the Students Loan Law, also established the Nigerian Education Loan Fund (NELFUND) to handle the processing, granting, disbursement, and recovery of these loans.
Initially, the government planned to launch the scheme in September 2023, but it faced several delays, leading to an indefinite postponement in early March.
The Presidency attributed the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.
Following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu directed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.
Tinubu emphasized the importance of accommodating those who may not want to pursue a university education, highlighting that skill acquisition is as crucial as obtaining undergraduate and graduate academic qualifications.
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