President Bola Tinubu will launch the long-awaited student loan scheme on Wednesday, July 17, at the State House in Abuja.

This marks the start of the scheme’s implementation, initially benefiting 70,000 students with N35 billion already approved for disbursement.

The Nigerian Education Loan Fund (NELFund) Governing Board, chaired by Mr. Jim Ovia, authorized the loan disbursement during its inaugural meeting in Abuja last month. The board’s approval represents a significant step in supporting education and empowering future leaders.

The student loan scheme, a flagship program of the Tinubu administration, aims to provide financial support for school fees and stipends to eligible students nationwide. Over 1.2 million students are expected to benefit from the first phase of the program.