The National Assembly and the Nigerian Education Loan Fund (NELFund) have begun efforts to expand the student loan scheme, with a target of increasing direct beneficiaries from 1.6 million to seven million.
The move was announced on Monday at a national sensitisation programme on student loans organised by the senate committee on tertiary education and TETFund in collaboration with NELFund.
Akintunde Sawyerr, managing director of NELFund, said the scheme has recorded disbursements of N282 billion and directly benefited 1.6 million students across the country.
Sawyerr said the impact of the scheme extends beyond the direct beneficiaries.
“Today, 1.6 million Nigerian students have directly benefited from the NELFund scheme,” he said.
“If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives.”
Sawyerr said the agency is seeking support from stakeholders
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