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Student Loan Scheme Set For Take Off With 1.2m Beneficiaries

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• Selected applicants to get upkeep stipends

The Student Loan Scheme of the Bola Ahmed Tinubu Administration is finally set to take off with about 1.2 million beneficiaries.

The process of participating in the programme, whose enabling law was signed by President Tinubu on April 3, will commence “anytime soon”, according to Nigerian Education Loan Fund (NELFUND’s) Managing Director/Chief Executive Officer (MD/CEO), Mr. Akintunde Sawyer.

The ambitious cardinal programme will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).

This year, the revenue target given to the FIRS is N19.4 trillion.

Should the agency meet this projection, N194 billion will be available as a loan to the beneficiary students.

Repayment, according to the law, will commence two years after the completion of the National Youth Service Corp (NYSC).

According to the NELFUND CEO, all is set for the commencement of registration and application by tertiary institution students.

He said: “We don’t expect to have more than 1.2 million students in the first instance.

“As time goes on, there will probably be expansion.

“For the successful applicants, we will be paying their fees – the full amount – directly to the institutions.

“There will also be a stipend paid to the individuals.

“At a regular interval, the beneficiaries will receive an amount of money for their upkeep so that they can do the basic things – feeding, photocopying handouts and data.

“They can use the stipend to ensure that there is enough opportunity for them to survive the experience of being students.

“We all know that students’ survival is on another level.”

On the condition to be met by potential beneficiaries, he said they would be required to provide their Joint Admissions and Matriculation Board (JAMB) numbers, National Identification Number (NIN), and Bank Verification Number (BVN), among other details before they can apply for the loan.

He explained that those who are already students and seek to take the loan would need to, in addition to these conditions, provide their matriculation details.

He restated President Bola Ahmed Tinubu’s pledge to ensure that as many students as are interested benefit from the scheme.

“Without a doubt, President Tinubu intends to ensure that as many Nigerians as possible get this opportunity.

“That is why he has vigorously pursued this opportunity on behalf of students.

“That is why all of us must join hands to ensure that capacity expansion can happen.

“This is not going to be an elitist programme. It is a programme that is going to drag as many people into the education net as possible.

“That is what the President intends and that is what we are going to do,” he said.

President Tinubu has repeatedly said he intends to ensure that no Nigerian student drops out of tertiary institutions for lack of funds.

The President, while signing the Bill into law, thanked the National Assembly for expeditiously passing it.

The Senate and the House of Representatives passed the bill after only three legislative days.

 

 

 

Education

LASG SHUTS ILLEGAL NURSING COLLEGE IN IKORODU

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Lagos State government has sealed Tower College of Health Sciences in Gberigbe, Ikorodu, for operating an illegal nursing program.

 

A joint enforcement team on Thursday, comprising officials of the Lagos State Ministry of Health through the Directorate of Nursing Services (DNS), the Nursing and Midwifery Committee of Lagos State, and the National Association of Nigerian Nurses and Midwife (NANNM), Lagos State branch, with men of the Rapid Response Squad (RRS), stormed the school premises to enforce the closure.

 

During the operation, the Director of the college, Femi Ajekigbe was arrested and has been taken into custody for questioning and further legal action by the State.

 

Speaking to journalists after the closure, Mrs Sola Aketi, the Director of Nursing Services, Lagos State Ministry of Health noted that the institution had been notified of the imminent closure after an inspection team from the Nursing and Midwifery Committee of the state had earlier visited the institution in January 20, 2025, to assess its compliance with standards but several irregularities were uncovered.

 

According to her, the team led by Dr. Oladapo Olawale, alongside Nurse Ilawole, Comrade Ayobami Amusan and Comrade Idowu Osuntuyi reported that Tower College of Health Sciences failed to meet basic academic and infrastructural requirements for nursing education and consequently lacked accreditation from the Nursing and Midwifery Council of Nigeria, NMCN.

 

She confirmed that Tower College is just one of many unaccredited institutions operating in Lagos and vowed to extend the clampdown to other illegal nursing schools as the State will no longer condone such dangerous death traps.

 

Aketi said, “As a result of this closure, the illegal institution will cease all nursing training and educational activities with immediate effect.

 

“We have several of these schools across the state, and we will not stop until they are all shut down.

 

“Any further operation of the college is be considered unauthorized and dangerous to the people of Ikorodu and Lagos in general,” she added.

 

She warned that activities of these unapproved health institutions are dangerous and inimical to the well-being of any society and weaken the state healthcare delivery system.

 

Dr. Olawale Oladapo, who led the team in January 20, 2025 had advised the Association and the state government that the school lacked basic requirements needed for accreditation and so included in his report the immediate closure of the illegal school for the safety of the people.

 

In his report, he observed that, “the school had no demonstration room, no hospital affiliation for clinical postings, and no hostel accommodation for students who shockingly were already in their 300 level without undergoing any clinical training and resource verification from the nursing council.

 

“The inspection committee, however, recommended the immediate closure of the school, withdrawal of all students, and also the licenses of individuals parading themselves as nursing tutors without approval,” Oladapo noted.

 

Following the report, the Nursing and Midwifery Committee of the State and the Lagos State Ministry of Health issued a formal closure notice dated 20th February 2025, signed by Dr. Olawale Oladapo, Secretary of the Committee.

 

The letter stated that the decision to close the institution was due to failure to meet the minimum standards for accreditation as outlined in NMCN regulations, non-compliance with repeated warnings to correct identified deficiencies and evidence of substandard training and education, posing risks to the health, safety, and wellbeing of students and the public.

 

The premises have since been sealed and placed under surveillance to prevent any further unauthorized operation of the college as contrary action will be considered unauthorized and may result in legal action.

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Education

Student Loan Application Hits One Million – NELFUND

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The Nigerian Education Loan Fund (NELFUND) on Sunday said that the student loan scheme has crossed one million applications on its official portal.

 

The organisation noted that this marked one of the biggest uptake levels for a government-backed social scheme since the start of President Bola Tinubu’s administration.

 

NELFUND, in a statement by the Director, Strategic Communications, Oseyemi Oluwatuyi, stated that the milestone comes barely one year after the programme’s launch on 24 May 2024, describing it as proof that the student loan initiative is gaining strong national traction and public trust.

 

It said that over ₦116bn has so far been disbursed to students across universities, polytechnics and colleges of education in Nigeria, covering institutional charges and upkeep allowances.

 

The Managing Director of NELFUND, Akintunde Sawyerr, said the development reflected the impact of the President Tinubu Renewed Hope policy drive on access to higher education.

 

The statement explained: “Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education.

 

“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda.”

 

NELFUND reiterated that it is committed to continuous process improvement to make sure “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”

 

The agency described the programme as non-discriminatory — saying it benefits Nigerians across religions and ethnic backgrounds — and is helping to unify national aspirations through equal learning opportunities.

 

It said it remains focused on ensuring “no Nigerian is denied the opportunity to learn, grow or contribute to national progress because of financial limitations.”

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Education

Just In: ASUU Suspends Two-Week Warning Strike

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The Academic Staff Union of Universities has announced the suspension of its ongoing two-week warning strike.

 

The National President of ASUU, Prof. Chris Piwuna, made this known in an ongoing press briefing in Abuja on Wednesday.

 

According to Piwuna, the decision stemmed from the meeting of the National Executive Council meeting which was held overnight and ended by 4:00 am on Wednesday.

 

Piwuna noted that the union decided to embark on the strike due to the failure of the government to meet its demands on time.

 

“We’ve had useful engagements with representatives of the government to consider the response to the draft renegotiation of the 2009 agreements. However, we are definitely not where we were prior to the commencement of the strike.

 

“The union acknowledged that the government returned to the negotiation table. While noting that a lot more work is still required, NEC came to the conclusion that the ongoing strike should be reviewed. The decision to review the strike action was a result of efforts by our students, parents, and the Nigeria Labour Congress.

 

“Consequently, NEC resolved to suspend the warning strike to reciprocate the efforts of well-meaning Nigerians.”

 

Recall that ASUU declared a total and comprehensive warning strike starting from Monday, October 13.

 

ASUU is currently demanding the conclusion of the renegotiated 2009 FGN-ASUU agreement, the release of the withheld three and a half months’ salaries, sustainable funding of public universities, revitalisation of public universities, and cessation of the victimisation of lecturers in LASU, Prince Abubakar Audu University, and FUTO.

 

Others are payment of outstanding 25-35% salary arrears, payment of promotion arrears for over four years and release of withheld third-party deductions (cooperative contributions, union check-off dues).

 

 

 

 

 

 

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