The Federal Government has officially commenced the Student Loan Scheme following a mild amendment to the programme.
President Bola Tinubu inaugurated a presidential committee to drive the scheme a few minutes ago at the State House in Abuja.
During the inauguration, President Tinubu provided the implementation team with terms of reference to ensure the scheme adheres to its mandate and operates effectively.
To kick-start the programme, President Tinubu recently approved ₦35 billion to be disbursed through specific criteria by the Nigerian Education Loan Fund (NELFund), targeting 70,000 initial applicants.
Zenith Bank founder, Jim Ovia, who was appointed by Tinubu as the Chair of the Governing Board of NELFund, approved the disbursement of loans to successful applicants during the board’s inaugural meeting in Abuja last month.
