Following a mild amendment to the Student Loan Scheme, the Federal Government has effectively commenced the programme.
As of the time of filing this brief report, the President, Bola Tinubu is currently inaugurating a presidential committee to drive the Scheme at the State House, Abuja.
To kick start the programme, the President had recently approved ₦35 billion to be disbursed through specific criteria by the Nigerian Education Loan Fund, NELFund, targeting 70,000 initial applicants.
Jim Ovia who was appointed by Tinubu to Chair the Governing Board of NELFund had approved the disbursement of loans to successful applicants during its inaugural meeting in Abuja last month.
At the inauguration currently taking place in the Villa, Tinubu is expected to give the implementation team terms of reference to ensure the scheme does not derail from its mandate.
Details later…