Nearly 60 Percent of N1.38m NELFUND Beneficiaries are Northerners – FG
Basking in the euphoria of recent successes coming out of its student loan initiative with at least two beneficiaries coming out with first class grade from the Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, the Federal Government has told Nigerians to stop doubting the programmme as all the facts and updates they need are available in its digital platforms online.
Fielding questions from journalists in a press conference on Monday, Presidential spokesman, Mr. Bayo Onanuga, said the Nigeria Education Loan Fund (NELFUND) is changing lives and it has come to stay.
“The NELFUND scheme is one of the most impactful social interventions in recent years and the administration is proud of its achievements,” he said.
NELFUND officials at the press conference also said out of the 1.38 million Nigerians who have benefited from the scheme, over 58 percent are from the northern part of the country.
According to the government representatives, the loan scheme is designed to ease the financial burden on families and expand access to higher education.
The federal government has so far spent 242.4 billion on the loan disbursements so far.
Repayment is structured to begin two years after beneficiaries complete the National Youth Service Corps (NYSC) and secure a job, with no interest charged on the loans.
Officials described the scheme as transparent and technology-driven, with a public dashboard allowing Nigerians to track applications and disbursements.
Government spokespersons also emphasised the broader economic impact of the programme, noting that it is helping to keep students in school while empowering families financially.
Mr. Tunde Rahman and other members of the Presidential Media Team also attended the press conference.
By TimesNG