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The announcement was made in a statement by the media lead
for the NELFund, Nasir Ayantogo.
Ayantogo, in the statement, said the opening of the
application portal marked a significant milestone in the commitment of
President Bola Tinubu to “fostering accessible and inclusive education for all
Nigerian students.”
On June 12, 2023, Tinubu signed the Access to Higher
Education Act, 2023 into law to enable indigent students to access
interest-free loans for their educational pursuits in any Nigerian tertiary
institution.
The move was in “fulfillment of one of his campaign promises
to liberalise funding of education,” a member of the then Presidential Strategy
Team, Dele Alake, said.
The Act, popularly known as the Students Loan Law, also
established the Nigerian Education Loan Fund to process all loan requests,
grants, disbursement, and recovery.
Although the government initially announced that the scheme
would be launched in September, it suffered several delays leading to an
indefinite postponement in early March.
The Presidency had linked the delay to Tinubu’s directive to
expand the scheme to include loans for vocational skills.
After receiving briefing from the NELFund team led by the
Minister of State for Education, Dr Yusuf Sununu, on January 22, the President
had directed the Fund to extend interest-free loans to Nigerian students
interested in skill-development programmes.
Tinubu based his decision on the need for the scheme to
accommodate those who may not want to pursue a university education, noting
that skill acquisition is as essential as obtaining undergraduate and graduate
academic qualifications.
“This is not an exclusive programme. It is catering to all
of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers,
and accountants. It is also for those who aspire to use their skilled and
trained hands to build our nation.
“In accordance with this, I have instructed NELFund to
explore all opportunities to inculcate skill-development programmes because not
everybody wants to go through a full university education,” he had said.
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.
“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.