The director – general, National Orientation Agency (NOA), Mallam Lanre Issa Onilu, Thursday, said over N59 billion has been disbursed so far under the Nigerian Education Loan Fund (NELFUND) student loan.
He stated this at a town hall meeting on federal government policies held at the Oyo state NOA headquarters in Agodi area of Ibadan.
Speaking through Oyo state NOA director, Mrs Ajolayo Simiat Akande, the NOA DG said over 600 students have been on-boarded in the scheme.
“The Nigerian Education Loan Fund was established by the current administration of President Bola Ahmed Tinunu, to ensure that no Nigerian who qualifies for tertiary education fails to pay school fees.
“The loan is available to all qualified Nigerians who are schooling in public tertiary institutions in Nigeria.
“The loan is fully digital, that means that applications are made online at the NELFUND website and tuition fees are paid directly to the school on behalf of successful applicants. Over 600,000 students have been on-boarded and over N59 billion has been disbursed so far.”
Speaking further, the NOA DG said in the Social Safety Nets Expansion, Conditional Cash Transfer has been done to over 2 million households that are enrolled nationwide.
He added that: “Trader Moni and Farmer Moni is being introduced through the Government Enterprise and Empowerment (GEEP) programme and interest free loans of up to N300,000 will be provided.”
On the Renewed Hope Infrastructure Fund, Mallam Issa Onilu, disclosed that renovation of “700 rural schools is in the process of being undertaken nationwide as an intervention to improve the state of schools in the rural areas in Nigeria.”
The NOA DG also stated that N110billion has been dedicated to support 150,000 youth across Nigeria under the National Youth Investment Fund (NYIF), adding, “this initiative is being coordinated by the Federal Ministry of Youth along with other stakeholders.”
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