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NELFUND MD, Akintunde Sawyerr
The Nigerian Education Loan Fund has announced the disbursement of N136.7M to Joseph Sarwan Tarka University, Makurdi in Benue State.
A statement signed by the Managing Director of NELFUND, Akintunde Sawyerr, on Wednesday, said the disbursement benefitted a total of 2,222 students.
“NELFUND is pleased to announce the disbursement of N136,786,650.00 (One hundred thirty-six million, seven hundred eighty-six thousand, six hundred fifty Naira) to Joseph Sarwan Tarka University, Makurdi, Benue State, benefitting 2,222 students.
“This significant financial support reflects the vision of President Bola Ahmed Tinubu, GCFR and his Renewed Hope Agenda of fostering a more educated and empowered populace.
“NELFUND, at the forefront of providing interest-free loans to deserving students, continues to deliver on its commitment to reducing barriers to higher education across Nigeria,” NELFUND said in the statement.
The statement credited the Pro-Chancellor of Joseph Sarwan Tarka University, Senator Olanrewaju Tejuoso, for his support and commitment towards what it described as a seamless disbursement process.
Speaking further, Sawyerr remarked, “Education is the foundation of any thriving society, and we at NELFUND are proud to support institutions like Joseph Sarwan Tarka University in fostering the academic growth of our youth.
“We extend our deepest gratitude to Senator Tejuoso for his dedication and tireless efforts.”
The implementation of the student loan scheme is President Bola Tinubu’s flagship project in the education sector.
Barely a month after his inauguration as president, Tinubu signed the Access to Higher Education Act, which creates a legal framework for granting loans to indigent or low-income Nigerians to facilitate the payment of their fees in Nigerian tertiary institutions.
The law, reenacted earlier this year, created the Nigerian Education Loan Fund.
NELFUND is saddled with the responsibility of handling all loan requests, grants, disbursement, and recovery.
The Fund, according to the Act, is to be funded from multiple streams and will engage in other productive activities.
