President Bola Ahmed Tinubu has directed the management of the Nigeria Education Loan Fund, NELFUND, to expand its focus area by extending interest-free loans to Nigerian students interested in skill-development programmes.
Tinubu issued this directive at the State House on Monday after a briefing from Akintunde Sawyerr, Executive Secretary of NELFUND, on the build-up to the launch of the programme later in the month.
The president said it is important for the scheme to accommodate those who may not want to pursue university education, noting that skill acquisition is as important as obtaining undergraduate and graduate academic qualifications.
Mr. Sawyerr, in his presentation to the President, said the loan application process will be technology-driven, limiting human interface and “eliminating any possibility of maladministration in the programme.”
Speaking on the funding mechanism of the programme, Mr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), says funding sources have been made available to ensure the smooth take-off and sustenance of the programme.