By Cross Udo, Abuja
President Bola Tinubu yesterday launched the Nigeria Education Loan Fund (NELFUND) aimed at ensuring that Nigerian students in public tertiary institutions have access to money to finish their programme.
Speaking at the formal launch of NELFUND and ceremonial disbursement of funds, at the Council Chamber, Presidential Villa, Abuja, President Tinubu stressed the importance of education as a vital tool in combating poverty as well as achieving national development.
He emphasised that education is the greatest weapon against poverty, providing vision, development, and hope, adding that without education, conquering insecurity and achieving success is impossible.
He averred that education provides the light at the end of the tunnel, no matter how slow the progress may seem.
Addressing the Board, members, and the management of the Fund, President Tinubu reaffirmed the commitment of his administration to the Renewed Hope Agenda saying democracy is all about inclusiveness.
He added that the target of his administration is to build a fair society that is built on successful inclusiveness.
According to him, “What I believe is that education is the greatest weapon against poverty in any society, without education there is no vision, there is development, and you cannot successfully conquer insecurity.
“Education is that light at the end of the tunnel no matter how sluggish you move, it will give you the light and the hope.”
President Tinubu further noted that Nigeria will continue to invest in education to empower the citizens and deploy it as a tool against terrorism, banditry, and insecurity.
He said, “We are investing, we don’t want to try ignorance as an alternative, we want education from foundations to the topmost level and I am glad that leadership and its leadership accepted the responsibility.
“There is available here the hope and the genuine commitment, inclusiveness is what democracy is all about.
“Today I am fulfilling one of my greatest campaign agendas, you cannot find your way if you are not well educated, you cannot even fight terrorism and banditry.
“If we have successful inclusive and loan that is necessary for our people to get educated and invest in their own lives we would have built a fair society and a promise that we will earn a banner without stain to our children.
He also symbolically presented loan cheques to students from each of the six geo-political zones, indicating the beginning of the disbursement of the fund to qualified Nigerian students.
President Tinubu later presented cheques to Vice Chancellors of Bayero University, Kano (BUK), Federal University of Technology, Owerri (FUTO), among other institutions present.
N’ Assembly passes Tinubu’s additional N6.2trn injection into N27.5trn 2024 budget
*Southerners sceptical over scheme, northern students dominate applicants, says NELFUND MD
Meanwhile, the Managing Director of NELFUND, Akintunde Sawyerr, has said students from the Southern part of the country have been sceptical and doubtful in applying for the recently established loan fund by the Bola Tinubu administration.
The Managing Director also said that tertiary institutions in the north have been proactive in helping and providing their students with the needed data necessary to access the loan.
Sawyerr stated this while briefing State House correspondents after the flagging off of the loan disbursement to the applicants by President Tinubu at the Council Chamber, Presidential Villa in Abuja.
But he also noted that there is a growing awareness in the South of the authenticity of the loan.
He explained that university students are leading in the application for the fund which is established to help Nigerian students in public institutions complete their education programmes followed by the Polytechnics students and then the Colleges of Education.
He said, “The zones with the highest and the segments of the institutions with the highest, I can say to you that institutions in the north of the country have been very proactive at supporting and helping their students and in providing their data to us.
“So that’s where the leaning is currently, but that’s to be expected because they seem to be very well organized in terms of networking in the northern part of the country.
“In the southern part of the country, there’s growing awareness and there’s growing interest. I think there’s been a lot of scepticism, generally and I think the most sceptical part of the country is in the south.
“They question everything; is it true? Is it real? Is it a scam? And I think what you witnessed today with us starting this disbursement programme is to say that ‘this is NO FUND, This is NELFUND’.
“We’re trying to ensure that people know that this is not a trick, it’s not a game. Mr. President has backed this with cash and we’re going to disburse that cash. So I think we’ll see the scepticism that you can find mainly in the southern part begin to disappear when we start paying out.
“In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans, then I think it’s followed by the polytechnics and then the teacher training colleges. and I think it’s probably going to remain that way, the bias is going to remain that way.”
The Managing Director explained that the loan disbursement was categorised into two, the loan to pay for tuition fees which goes directly to the institution of the students, and the stipend for the students’ upkeep.
On the yardstick for selection of beneficiaries, he said the opportunity was for all Nigerian students in public institutions only excluding students in private institutions.
He also clarified the issue of indigent students being the primary target, stressing that the law establishing the loan said that it should be provided to those who need it without being specific to indigent students.
According to him, “It’s a great privilege, great honour to be able to be part of a programme that will change so many lives over so long a period into the future.
“The effect of providing this opportunity for the most needy Nigerians, most capable Nigerians in many ways, and the people who probably look after us, or whose decisions will impact on us in our old age cannot be underestimated. These are the most important people in the country that we’re trying to affect.
“So I want to give all the praise and all the recognition to the president. His Excellency Bola Ahmed Tinubu, for having the vision and the courage to do what he has just done.
“And I’m sure you’ve all heard that fortune favours the brave and this courageous move will bring fortune not just to him, but to the entire nation.”
Also speaking, President of the National Association of Nigerian Students (NANS), Lucky Imonife, said, “Today we are excited, Nigerian students are happy that the dream comes true l. It was once a dream, it became an Act and today, the president launched the disbursement.
“We are very proud of this. We as Nigerian students will call it a new dawn in the education sector.
“During the presidential disbursement today, (yesterday), you can see people applying, whatever background you belong to, you can assess the loan. It was so transparent, once you apply you will get it, irrespective of your status, your age, and your class.
“Like what Mr President said we equally agreed that it is a tool for fighting poverty. And we can say that, yes, Nigerian students now have access to higher education. We are proud of this. And this is a good legacy and a good investment in the development of our dear nation.
“We’re happy for this, we are excited and we embrace it. We are all excited, it is a new dawn in the education sector and we are very happy.”
