Student loan not suspended indefinitely: FG

The Nigerian Education Loan Fund (NELFUND) has clarified that the federal government student loan has not been suspended indefinitely.

Akintunde Sawyer, the executive secretary of the Nigerian Education Loan Fund (NELFUND), had stated that the programme was suspended indefinitely during a media interview.

However, NELFUND spokesperson Nasir Ayitogo, on Wednesday, said, “While there has been a postponement, we wish to state that it is not indefinite, as alluded to in the reports.”

Mr Ayitogo further stated that NELFUND is 100 per cent set for the launch and declared that the “loan application portal is ready, and President Bola Ahmed Tinubu has since approved the funds for the smooth take-off.”

In June 2023, President Bola Tinubu approved legislation to establish a Student Loan Fund, which would provide interest-free loans to Nigerians for higher education.

The bill was sponsored by Femi Gbajabiamila, a former Speaker of the House of Representatives and current chief of staff to President Tinubu.

The scheme was initially scheduled to begin in September or October of 2023.