FG’s Interest-Free Loan Extended to Students with Skill

The Tinubu-led Federal Government has extended its interest-free loan to Nigerian students interested in skill development programmes.

This was made known through the Presidential Spokesman, Chief Ajuri Ngelale while speaking at the State House yesterday after a briefing from Mr Akintunde Sawyer, the Executive Secretary of NELFUND on the preparation for the launch of the programme later in the month.

According to President Bola Tinubu, efforts should be made to include youths who may not be interested in university education but may seek to develop their skills.

The President said, “This is not an exclusive programme. It is catering to all our young people. Young Nigerians are gifted in different areas…it is also for those who aspire to build our nation with their skilled and trained hands.”

“By this, I have instructed NELFUND to explore all opportunities to teach skill-development programmes because not everybody wants to go through a full university education,” the President said.

He advised, ” No matter how economically challenged you are, accredited and qualified students will and must have access to this loan to advance their education in higher institutions. There is no compromise in our commitment to the disadvantaged citizens of the nation.”

Mr Sawyer, in his presentation to the President, expressed that the loan application would be technology-driven, limiting human interface and “eliminating any possibility of maladministration in the programme,” adding the programme will not terminate.

Sawyer said the fund earmarked for the bona fide Nigerian students will be disbursed directly to the institutions in the initial phase through electronic transfer.

He promised, ” Our students will be catered to in a way that bypasses human interference through the full utilization of available technological platforms…”

He spoke further that NELFUND had developed a robust risk-mitigation mechanism to address potential risks arising from the programme.

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