FIC Report (Kwara State) – Kwara State Governor AbdulRahman AbdulRazaq has described the student loan policy of the federal government as a sight of relief for the children of low-income earners to navigate their access to quality, higher education in the country.
The Governor gave the assertion in Ilorin, the Kwara State capital during a sensitization programme for students of tertiary institutions in the state.
The programme was organized by the Nigeria Education Loan Fund (NELFUND) in partnership with the Office of the Special Adviser to the Governor on Education, Policy Formulation & Human Capital Development, Dr Adetola Ariyike Salau.
Themed ‘Empowering Students through Financial Inclusion and Entrepreneurship’, AbdulRazaq commended President Bola Ahmed Tinubu for the initiative that he noted will address the major challenge of youth acquiring tertiary education.
The Governor also said that his administration is partnering with NELFUND on the sensitization to ensure that students across the educational institutions in the state benefit from the scheme.
“This is important because after finishing the school, what next? Do they have the right skills so that they can be employable? He expressed readiness of his administration to partner with NELFUND to carry out this programme. That is very key because they all need to be carried along.”
Managing Director NELFUND, Akintunde Sanya, who spoke through Executive Director Operations, Mustapha lyal, said they had so far received over 400,000 applications across Nigerian institutions since the launch of their operation, out of which 70% had been cleared.
He said that thousands of students from Kwara State have benefited from the loan scheme with about N900m disbursed to the combined public institutions in the state.
NELFUND boss explained that after successful application, the agency pays the school fees of the beneficiaries into their institutions’ accounts, while their annual upkeep of N240,000 is paid into their individual accounts.
Vice Chancellor, University of Ilorin, Prof Wahab Egbewole, in his remarks, said the initiative is bringing a relief to parents who have the responsibility to pay their students’ school fees, and urged students to enroll en masse and take advantage of the opportunity provided.
Egbewole, who was represented by Deputy VC Management Services Prof Adegboyega Fawale, hailed the federal government for the programme.
Signed
FADEYI, Babajide A.
(PIO)
FIC, Ilorin
