Tag: NELFUND

• …criticise disbursement inequities

The Coalition of Northern Groups Students Wing (CNG-SW) on Thursday, expressed dissatisfaction with the National Education Loan Fund (NELFUND) disbursement process, highlighting regional disparities and delays that are negatively impacting students in Northern Nigeria.

The coalition urged the federal government to discontinue the reform process and allow for a holistic consultation to address its potential to undermine institutions like the TETFund and overburden students with loans.

In a statement by the group’s national coordinator, Hassan Adamu, called on the federal government to immediately address these issues and revisit the proposed Tax Reform Bill to ensure the protection of educational institutions and students nationwide.

The group also called on legislators and citizens to study the bill critically and advocate for justice in the education sector.

He said: “We call on the federal government for the interest of Nigerian Students to discontinue the reform process and give room for a holistic consultation and amendment before legislation.

“We call on all patriotic legislators and all well meaning Nigerians to study the Bill with a keen interest and ensure justice to our educational institutions and Nigerian students.

“The NELFUND disbursement in Northern Institutions and Shortcomings 

The coalition of Northern groups students wing (CNG-SW) as vanguard of the Federal Government Students Loan Scheme, haven participated actively in sensitizing the students.

“Parents and the general public about the Student Loan Scheme (Bill and Act) as well as sensitization and mobilization of students to apply for the loan; have critically studied and analysed the released of disbursement statistics by National Education Loan Fund (NELFUND) across tertiary institutions in the Northern region. 

“From the disbursement statistics over eighty-two thousand nine hundred and fifty-one (82,951) students across Forty-Five (45) institutions benefited from the region. It is imperative to clarify that out of the Two-Hundred and thirty-four (234) Federal and State tertiary institutions cleared by NELFUND for the first Phase only Ninety-six (96) were from the north; with Fifty-one (51) tertiary institutions yet to receive disbursement.”

Read Also: Exclusion of private varsities from TETFund, NELFUND: Ex-UI VC seeks review of law

The coalition emphasised that the federal government must take immediate action to rectify these issues to ensure equitable access to education for all students.

Failure to do so, they warned, risks deepening educational disparities and further eroding the nation’s academic system.

He added: “While some institutions have refunded tuition fees paid by beneficiaries before disbursement to them, some are refunding certain percentage others are yet to commence the refund. Some beneficiaries have variation on the amount of loans disbursed to them and the amount payable as school fees leaving. The delay in disbursement and tuition fees payment pressure by Tertiary institution on beneficiaries. 

“There is a deliberate attempt to narrow the NELFUND coverage in the Northern region as the total number of Federal and State tertiary institutions in the region is more than 96. In Zamfara state for instance only four (4) out of the Ten (10) public tertiary institutions were covered, Sokoto only 4, Kano only (4). 13 and so on. 

“Priority was also given to federal institutions with few state-owned institution Tertiary institutions taking advantage of the Student Loan Scheme to increase tuition fees for the 2024/2025 session, will abuse the scheme. 

“The hike of tuition fees with the current economic reality will be a catastrophe to students and the scheme will be perceived as another form of extortion. 

“The delay in refund can give unpatriotic public servants room to embezzle the money. It is needless to remind us how snake and other animals were swallowing money years ago.

“The pressure of tuition fees payment deadline usually issued by many tertiary 

institutions have led to the withdrawal of indigent students, missing of academic 

activities such as examinations in some cases leading to poor academic performance or total forfeiture of their academic pursuit which has led to the increase number of drop out in northern institutions to up to 60 percent”.

They also called on NELFUND to expand their coverage as the total number of Federal and State tertiary institutions in the region are more than 96 institutions. This is to ensure access for all students.

The Coalition said NELFUND should ensure early disbursement to institutions to avoid pressure on beneficiaries by management. 

The coalition also criticized the Tax Reform Bill, describing it as a “deliberate attempt to attack critical national institutions” like TETFund, which have supported educational development. 

They warned that the reforms would deteriorate these institutions, leaving tertiary education infrastructure in disrepair.

“The reform will have a devastating effect on critical institutions that support educational development in the country,” the statement read.

The CNG-SW called on the federal government and legislators to act swiftly, emphasizing that failure to address these issues would deepen educational inequalities and further erode the academic system in Northern Nigeria.

The Managing Director, Nigerian Education Loan Fund NELFUND, Akintunde Sawyerr has engaged with students, educators, and officials of Borno State government, sensitising them to the benefits of the student loan.

Sawyerr assured his audience of President Bola Tinubu’s commitment to revitalising education in the country.

He noted that the loan programme was designed to reduce “unproductivity and unhappiness amongst Nigerians students, which often lead to broader societal issues.”

Sawyerr explained the loan’s modalities, which include creating an online profile as a prerequisite for application, clarifying that the loan was interest-free and does not require a fixed repayment period, making it accessible and flexible for students.

Borno State Commissioner for Education, Science, Technology, and Innovation, Lawan Wakilbe, reiterated the state government’s commitment to facilitating student access to the loan.

Wakilbe announced Ali Sheriff as the Desk Officer on NELFUND in the state to work in collaboration with the Special Adviser to Governor Babagana Zulum on Higher Education.

The commissioner said this would guide students throughout the application process and ensure they fully understand the benefits of the loan, which he described as a low-risk grant.

Wakilbe encouraged all eligible students to take advantage of the programme.

Read Also: 3,100 ATBU students get NELFUND loans

NELFUND, an initiative of President Tinubu’s Renewed Hope Agenda, aims to provide all higher institution students with access to financial resources, enabling them to pursue their educational goals and aspirations at ease.

During the session, questions were raised seeking further clarification, where the Managing Director provided detailed responses, shedding more light on the programme and its benefits.

No fewer than 3,100 indigent students of the Abubakar Tafawa Balewa University (ATBU), Bauchi, have benefited from the Federal Government’s students loan scheme.

 Fahad Abdullahi, President, Students Union Government, ATBU, said this in an interview with the News Agency of Nigeria (NAN), in Bauchi on Tuesday. 

He said that 3,100 out of the 25,000 student population of the university applied for the loan under the Nigerian Education Loan Fund (NELFUND).

Abdullahi said the fund disbursed N256 million to the university to cover school fees for about 3,300 students.

He said the students benefited from the institutional loan and upkeep allowances, adding that the union had scaled up sensitisation activities to mobilise participation in the programme. 

The SUG presiden said the union also visited the NELFUND office to address challenges impending seamless application by its members. 

He listed the challenges to include non provision of some banks on the application portal, lack of students’ JAMB admission number and lack of an editing column, to enable the applicant to effect corrections in the process.

According to him, the fund promises to introduce new features on the portal to ease cumbersome application processes.

 “I visited NelFund office in Abuja and we resolved issues affecting our students, and currently, the federal government has paid the upkeep allowances two days ago which is N20,000 monthly.

 “While applying, there is an option for you to apply for institutional loan for school fees and another option for the upkeep allowance. Some students applied only for the institutional fees while others applied both.

Read Also: ‘NELFUND to hit N20b loan disbursement this week’

 “I am happy owing to the fact that the economy is not smiling at us, and seeing the federal government bring this initiative to assuage the pains of students, it’s commendable,” he said.

 One of the beneficiaries, Adetoye Olubunmi, lauded the gesture, adding that it would avail them opportunities to further their education and encourage academic excellence. 

“It is good to have something like this even though we are not happy that the federal government is no longer subsidising education.

“The students loan scheme is a positive step towards education development,” he said.

 Also, Mohammed Hassan, attributed the low participation in the scheme to lack of interest on the part of the students.

Hassan said that many students have high preferences to self sponsorship rather than loans which would be repaid.

 He called for comprehensive sensitisation to create awareness and mobilise participation in the scheme. (NAN) 

Managing Director and Chief Executive Officer of Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has said the fund will hit N20 billion loan disbursement  by end of the week.

 Speaking at an oversight visit by House Committee on Student Loans and Higher Education Financing in Abuja, he said the fund already disbursed N12 billion to students as loans.

 He said the agency got 610, 000 applications, of which 321,000 were perused, with those approved sent to the institutions for validation.

He also said 120,000 individuals have received stipends.

“We have 610,000 we have looked at …. some of which we have approved and have sent off to institutions to do validation. Last week we approved further 52 institutions for disbursement and payment to institutions and to individuals because as you know we also pay stipend.

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“Before an individual can apply for the loan they have to register. We have just over 400,000 registrations. The registration process simply say I am here and these are all my validation checks. It stops short of them actually applying for the loan itself.

“Exposure in terms of what we have disbursed is about 12 billion. I believe we are going to be doing some further disbursements this week which will take that number to about 20 billion. We have something in the region of 120,000 people who have actually received stipends or about to.”

Chairman of the committee, Gboyega Isiaka, commended NELFUND’s efforts.

He said the agency’s progress and statistics are satisfactory, noting areas for improvement and pledged the committee’s support and oversight.

Isiaka praised the loan initiative by the Presidency.

He said there is need for more sensitisation, particularly in the South, where applications are lower than expected.

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Dr. Akintunde Sawyerr, has said the agency disbursed N11 billion to 90,000 students within six months.

Sawyerr announced this during an oversight visit by the Senate Committee on Tertiary Institutions and TETFUND, led by its chairman, Muntari Dandutse, yesterday in Abuja.

The NELFUND boss said the fees and stipends for over 90,000 students had been paid.

He said: “Three hundred students have been deemed to qualify for the loans. The gap between those that have qualified and those in benefit of the loan is that we have to go through a rigorous process to ensure we are not giving money to the wrong people.”

Read Also: NELFUND disburses N11bn to 90,000 students in six months

Sawyerr explained that from the N96 billion earmarked for students’ loans, about N11 billion had been disbursed to the 90,000 students across the country.

He said: “That figure, N96 billion, is the loan committed to; it’s not the disbursed figure. We have disbursed just below N11 billion. The rest of it is going to be disbursed over the next few weeks to students until it gets to that N96 billion.”

Sawyerr said the loan was in two categories: the Institutional Loan and the Upkeep Loan, adding that students do not have to apply for either loan.

“They don’t have to apply for either loan. However, they can only apply for the upkeep loan if they have applied for the institutional loan and received it.

“The institutional loan is the primary loan that allows them to access education. Once they have accessed that loan and they get that, they can also get the upkeep, but they can’t get the upkeep on its own because upkeep is tied to going to school,” he said.

The NELFUND boss stressed that the agency was determined to change the lives of students through the Renewed Hope mandate of President Bola Ahmed Tinubu’s administration.

He added that 12 per cent of students from the Northcentral had benefited from the facility.

“In the Northeast, 26 per cent have benefited; in the Northwest, 38 per cent; in the Southeast, about 10 per cent; in the Southsouth, about four per cent, and in the Southwest, 13 per cent.

“These numbers have doubled since we’ve been there. So, we are monitoring it month by month,” Sawyerr said.

On the loan repayment modalities, the director general explained that the programme was not established for profit-making but for the long-term gains of the beneficiaries.

“This is a profit-making activity for the nation (the beneficiaries). Therefore, we have tried to put in soft terms so that people will not be discouraged from going to school,” he said.

Sawyerr added that the repayment was for two years after the mandatory National Youth Service Corps (NYSC), if they have a job.

“The onus is on the employer to pay on their behalf or to take money from their salaries,” he said.

Dandutse had said the committee was at NELFUND’s headquarters to assess the progress it had made.

“We are here to see the value of what NELFUND has done. It took off only six months ago. The fact is that what they have done is very commendable.

“Over 90,000 students have access to the loan, in spite of the challenges and constraints. This is a very significant development in terms of success of education in Nigeria.

“Going forward, a lot of resources will be invested and each of the geo-political zones will have a liaison office where they will coordinate the universities, the polytechnics and the federal colleges of education so that their workers will enhance efficiency of this purpose,” he said.

The committee also visited the headquarters of the Joint Admissions and Matriculation Board (JAMB) at Bwari in Abuja.

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Dr Akintunde Sawyerr, on Tuesday, said the agency has disbursed N11billion as loans to 90,000 students in six months.

Sawyerr disclosed this during an oversight visit by the Senate Committee on Tertiary Institutions and TETFUND led by its chairman Senator Muntari Dandutse, in Abuja.

He said that fees and stipends for over 90,000 students have been paid.

He said: “Three hundred students have been deemed to qualify for the loans. The gap between those that have qualified and those in benefit of the loan is that we have to go through a rigorous process to ensure we are not  giving money to the wrong people.”

Sawyerr said that from the N96 billion earmarked for students’ loans, about N11 billion has been disbursed to the 90, 000 students across the country.

He said: “That figure, N96 billion, is the loan committed to. It’s not the disbursed figure. We have disbursed just below N11 billion.

“The rest of it is going to be disbursed over the next few weeks to students until it gets to that 96 billion.”

He noted that the loan was in two categories; the Institutional Loan and the Upkeep Loan adding that students don’t have to apply for either loan.

“They don’t have to apply for either  loan. However, they can only apply for the upkeep loan if they have applied for the institutional loan and received it.

Read Also: NELFUND: North’s senators seek special consideration for region

“The institutional loan is the primary loan that allows them to access education.

“Once they have accessed that loan and they get that, they can also get the upkeep but they can’t get the upkeep on its own because upkeep is tied to going to school”.

Sawyerr said that the agency was determined to change the lives of students through the Renewed Hope mandate of President Bola Tinubu-led administration.

He said that in terms of the geo-political zones’ spread of the disbursement, 12 per cent of students from the North-central have benefited from the facility.

“The North-east, 26 per cent have benefited; the North-west, 38 per cent; South-east, about 10 per cent; South-south, about 4 per cent and the South-west, 13 per cent.

“These numbers have doubled since we’ve been there. So, we are monitoring it month by month,” Sawyerr said.

On the loan repayment modalities, Sawyerr said that it has been made very easy in that the programme is not a profit-making activity for the Fund.

“This is a profit-making activity for the nation. Therefore, we have tried to put  in soft terms, so that people will not be discouraged from going to school”.

He said that the repayment was for two years after the mandatory National Youth Service Corps (NYSC) if they have a job.

“The onus is on the employer to pay on their behalf or to take money from their salaries”.

No fewer than 90,000 students have benefited from the Nigerian Education Loan Fund (NELFund) in six months, says the Fund’s Managing Director, Akintunde Sawyerr.

Sawyerr gave the figure when the Senate Committee on Tertiary Institutions and TETFund led by Sen. Muntari Dandutse paid an oversight visit to NELFund’s office in Abuja on Tuesday.

The managing director said that fees and stipends for over 90,000 students have been paid.

“300, 000 students have been dimmed to qualify for the loans. The gap between those that have qualified and those in benefit of the loan is that we have to go through a rigorous process to ensure we are not giving money to the wrong people.”

Sawyerr said that from the N96 billion committed to the loan, about N11 billion has been disbursed to the 90, 000 students across the country.

He said: “That figure, N96 billion, is the loan committed to. It’s not the disbursed figure. We have disbursed just below N11 billion.

“The rest of it is going to be disbursed over the next few weeks to students until it gets to that 96 billion,” he said.

He noted that the loan was in two categories; the Institutional Loan and the Upkeep Loan adding that students don’t have to apply for either loan.

“They don’t have to apply for either loan. However, they can only apply for the upkeep loan if they have applied for the institutional loan and received it.

“The institutional loan is the primary loan that allows them to access education.

“Once they have accessed that loan and they get that, they can also get the upkeep but they can’t get the upkeep on its own because upkeep is tied to going to school”.

Sawyerr said that NELFund was determined to change the lives of students through the Renewed Hope mandate of President Bola Tinubu-led administration.

Read Also: NELFUND: North’s senators seek special consideration for region

He said that in terms of the geo-political zones’ spread of the disbursement, 12 per cent of students from the North-central have so far benefited from the facility.

“The North-east, 26 per cent have benefited; the North-west, 38 per cent; South-east, about 10 per cent; South-south, about 4 per cent and the South-west, 13 per cent.

“These numbers have doubled since we’ve been there. So, we are monitoring it month by month,” Sawyerr said.

On the loan repayment modalities, Sawyerr said that it has been made very easy in that the programme is not a profit-making activity for the Fund.

“This is a profit-making activity for the nation. Therefore, we have tried to put in soft terms, so that people will not be discouraged from going to school”.

He said that the repayment was for two years after the mandatory National Youth Service Corps (NYSC) if they have a job.

“The onus is on the employer to pay on their behalf or to take money from their salaries”.

Earlier, Chairman of the Senate Committee, Sen. Muntari Dandutse said that they were at the NELFund’s headquarters to assess the the progress so far made by the Fund which was set up barely six months ago.

“We are here to see value of what NELFund has done. It has just taken off in the last six months. The fact is that, what they have done is very commendable.

“Over 90, 000 students have access to the loan. And in spite of the challenges and constraints, this is a very significant development in terms of success of education in Nigeria.

“Going forward, a lot of resources will be invested.

“And each of the geo-political zones will have a liaison office where they will coordinate the universities, the polytechnics and the federal colleges of education so that their staff will enhance efficiency of this purpose”.

Dandutse said that the Senate was closely reviewing the specific initiatives undertaken by NELFund to enhance Nigeria’s tertiary education sector.

“This includes assessing the outcomes of projects designed to Improve infrastructure, foster research, and support staff development within tertiary institutions”.

Dandutse also said that the upper chamber was committed to fostering a tertiary education system that was responsive, impactful and transformative for Nigeria’s future.

Also speaking, a member of the committee, Sen. Diket Plang (APC-Plateau) said that with NELFund, the government has done something that will be great in the lives of students.

He urged the Fund to use additional modalities to get to most of the students to apply for the loan.

“For instance, each state has a scholarship board. As much as you meet with heads of public tertiary institutions, each head of the institution should be in position to explain to students the benefits of the loan. If we have that, it will help, Plang said.

(NAN)

• Lawmakers explain preferential requiest for zone in letter to President

• Bowen seeks inclusion of private institutions’ student loan scheme

The Northern Senators’ Forum (NSF) has sought special consideration for the region’s students in higher institutions in the disbursement of the Nigerian Education Loan Fund (NELFUND).

The senators made the request in a letter, dated October 28 and addressed to President Bola Ahmed Tinubu by their chairman, Senator Abdulaziz Yar’Adua.

The letter reads: “On behalf of the Northern senators, I wish to most respectfully express our profound gratitude to His Excellency, President Bole Ahmed Tinubu, GCFR, and the eminent Nigerians in the board and management of the Nigerian Education Loan Fund (NELFUND), led by Mr. Jim Ovia as Chairman and Mr. Akintunde Sewyerr as Managing Director/Chief Executive Officer.

“Our expression of deep appreciation is in view of the enormity of the impact of the Student Loans Scheme, which has been initiated with instant impact across tertiary institutions in Nigeria.

Read Also: How to apply for new contactless passport application system

“The students from tertiary institutions in the North have shown belief in and responsiveness to the scheme, and it is heartwarming to find Bayero University, Kano (BUK); University of Maiduguri (UniMaid); and Federal University at Dutsin-Ma (FUDMA) leading the charts of beneficiaries in the early days of the scheme, with over 16,000 combined number of beneficiaries, amongst other students from numerous other institutions.

“We will not lose sight of the fact that this programme is a national scheme and, therefore, should command a semblance of balance and spread across the country’s geo-political zones.

“However, considering the level of youth restiveness and violent extremism that has plagued the North for over a decade-and-half, it will not be out of place for the government to deliberately target a geometric enhancement of access to tertiary education mainly for young northerners.

“This scheme bolsters the chances of these young citizens to return to school and achieve gainful employment.

“As a forum of northern legislators, we acknowledge the impact of the historic Act setting up NELFUND and the propensity of the initiative to enable progress, especially in reducing insecurity and improving living standards across our communities.

“Finally, we wish to encourage northern state governments to sustain the active participation of citizens by ensuring active collaboration with NELFUND in undertaking awareness campaigns across tertiary institutions within their states.”

Also, the Vice Chancellor of Bowen University at Iwo in Osun State, Prof. Jonathan Babalola, has urged the Federal Government to include undergraduates in private institutions in NELFUND.

Babalola, who spoke the during the 19th pre-convocation media briefing of the university, noted that such an inclusion is necessary since the students would pay back the loan.

The vice chancellor stressed that “NELFUND is a loan meant for Nigerians; so, I believe that anybody in a private university who needs such should be given since it is a loan that will be returned in a long run.”

He added: “Why do we discriminate students in private institution? I want the government to know that not all students in private universities are rich enough to afford it; there are some who …would not want their children to waste their years in public universities due to strikes.

“Some parents would go for cooperatives, and the likes, just because they want their children to attend private universities and finish on time.”