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Student Loans: 350,000 Applications Received, N10bn Disbursed In Tuition, Stipends – NELFUND

Published

1 year ago

October 24, 2024

Gloria Ikibah

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…say disbursement not discriminatory but inclusive

By Gloria Ikibah

The Chief Executive Officer of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has said the Fund has received over 350,000 applications and disbursed over N10 billion, with a commitment to disbursing N90 billion in tuition fees and stipends.

Sawyer stated this at an inaugural meeting with the House of Representatives Committee on Student Loans, Scholarships and Higher Education Financing on Wednesday.

He said that the scheme is not discriminatory but inclusive, ensuring that every Nigerian, regardless of location or background, has access to the education they deserve.

He further explained that the fund has also been proactive in reaching out to segments of the nation that feel left behind- particularly the South East.

The NELFUND Boss said significant progress has been made in engaging these communities, with multiple rounds of sensitization in the region, resulting in a surge in applications.

He said, “Applications are coming in at an average of over 1,000 per day, and we are making special provisions for students living with disabilities. Moreover, we are focused on addressing the barriers to girl-child education, recognizing that denying girls the opportunity for further education is denying the nation a chance to benefit from their incredible leadership potential.

“With 70% of our population under the age of 35, failing to provide access to education for this segment exposes Nigeria to a future fraught with instability and violence. This intervention by President Tinubu could not have come at a better time.”

According to Sawyerr, the Fund is an institution designed to bring succour to the common man, especially in these challenging economic times, in line with the Renewed Hope Agenda of President Bola Tinubu.

He said it was not just a palliative for immediate relief but a long-term solution aimed at fostering stability and growth in a large and diverse nation like Nigeria.

“This administration, under President Bola Ahmed Tinubu, has introduced many brilliant policies, and the student loan initiative is one that hits closest to home. It is reaching every corner of the nation-East, West, North, and South.

“This policy is not discriminatory; it is inclusive, ensuring that every Nigerian, regardless of location or background, has access to the education they deserve.

“It is akin to monumental policies such as the free education program of Chief Obafemi Awolowo, the establishment of the National Youth Service Corps (NYSC) by Gen Yakubu Gowon, and the creation of federal universities.

“These policies have shaped Nigeria’s development, and the student loan initiative is equally progressive, representing an investment in our nation’s future.

“We have also been proactive in reaching out to segments of the nation that feel left behind- particularly the South East. I am pleased to report that my team and I have made significant progress in engaging these communities, with multiple rounds of sensitization in the region, resulting in a surge in applications,” he said

He further reiterated the commitment of the Fund to working closely and harmoniously with the committee.

Sawyerr said it is only through cooperation and peaceful collaboration can they achieve the best possible outcomes for Nigeria and its students.

“In this regard, NELFUND will also be working closely with the National Assembly in the area of sensitization, recognizing that you are closest to the people and best positioned to reach your constituents.

“A comprehensive work plan will be developed to guide our efforts, ensuring that we engage effectively at all levels to make certain that no student is left behind.

“One of the steps we have taken to strengthen our partnership is the upcoming retreat for the joint committee in the first week of November. This retreat will provide us with the opportunity to interface and sensitize lawmakers on our activities and objectives.

“It will also allow us to gain a deeper understanding of the workings of the National Assembly and the peculiar needs of various constituencies across the country. This collaboration is crucial in shaping a student loan system that truly serves the interests of all Nigerians.

“As we continue to work together, let us remember that our collective goal is the good of Nigeria and its youth. By ensuring that education remains accessible and equitable, we are not only securing the future of millions of young Nigerians, but we are also building a stronger, more prosperous nation,” he added.

Chairman of the Committee, Rep. Gboyega Isiaka, said the Committee was concerned about the ability of the management staff to manage the enterprise, which has so much potential.

According to him, NELFUND was a very critical agency created not only to provide loans, but it’s about creating a future where every Nigerian youth has the opportunity to realise their potentials and contribute to the nation’s growth.

“Therefore, as we progress into proper oversighting of this institution, we are going to be concerned with so many things. We want, for example, to be able to tell ourselves where will NELFUND be within the next three to five years? How is it going to get there? And what are the issues that we need to address in order for them to get there?.

“We as a committee, we have decided to work, and of course working in conjunction with the directive given to us by the Speaker and the leadership of the House, to work with the executive and the management and board of this company to ensure that the reasons for the setting up are achieved.

“But we also expect that we will work very well within the confines of the law and ensure that all the aspirations and the expectations of the people of Nigeria, particularly the youth, are met,” he stated.

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NMDPRA approves F-500 Encapsulator Agent for oil depots, pipelines with strict three-year terms

Published

2 hours ago

April 21, 2026

EMMANUEL AGAJI

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority has approved the F-500 Encapsulator Agent fire suppressant for use across midstream and downstream petroleum operations, subject to strict three-year conditions and regulatory monitoring.

The fluorine-free agent is now cleared for deployment in depots, pipelines and processing facilities, the NMDPRA said in a circular dated March 12, 2026 and signed by Mustapha Lamorde, PhD, on behalf of the Authority Chief Executive.

The sector-wide approval followed a two-step process.

Okama Infinity Nigeria Limited received company-specific clearance in February 2025 after the product passed Safety Data Sheet validation and eco-toxicity tests under Nigerian conditions.

The March directive extends eligibility to all licensees, operators, and service providers.

Under the Petroleum Industry Act and 2023 environmental regulations, the NMDPRA said the approval is conditional and revocable. It runs for three years from March 12, 2026.

Operators must comply fully with existing petroleum and environmental laws. Any change to the product’s formulation without prior approval voids the clearance and triggers mandatory re-certification.

Distributors must file quarterly inventory returns showing volumes imported, distributed, and deployed. The regulator reserves the right to review, revise, or withdraw approval based on field performance or new evidence.

The F-500 Encapsulator Agent offers a non-toxic, fluorine-free alternative to older foam systems that have raised environmental concerns. Fire risk remains a major hazard in petroleum storage and transport.

The NMDPRA said the rollout will be closely monitored to ensure field performance matches technical claims. For operators, the approval adds fire response capability but also increases reporting and compliance duties.

Managing Director of Okama Infinity Nigeria Limited, Sir Oghenekaro Jockey expressed joy over the approval granted by the regulatory agency.

Jockey assured stakeholders of the company’s commitment to excellent service delivery.

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Ex SGF Babachir reveals what Buhari told him about Tinubu before his demise

Published

3 hours ago

April 21, 2026

EMMANUEL AGAJI

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Former Secretary to the Government of the Federation, Babachir Lawal has shared details of a private conversation he had with late President Muhammadu Buhari about his political ties and disagreements involving President Bola Ahmed Tinubu.

Recall that Lawal spoke in an interview on Channels Television, where he said the conversation happened shortly before Buhari’s death.

He explained that Buhari warned him about possible political disagreements that could come up between him and Tinubu in the future.

According to him, the late president said such situations were likely but should be handled carefully.

He said Buhari advised that any clash in political views should remain focused on governance and public issues.

The former president, he added, made it clear that personal attacks should be avoided, and discussions should remain centered on national matters rather than personal matters.

Lawal said he accepted the advice and made a promise to follow it. He explained that since then, he has tried to keep his public comments about Tinubu within political issues only, without bringing in personal matters.

He added that Buhari told him he might end up in political disagreement with someone he considered a friend, but he should avoid turning it into something personal. Lawal said he agreed to that guidance at the time and has tried to respect it in his political activities.

Quoting his exchange with Buhari, Lawal said the late president told him, “You are going to fight your friend politically; please promise me you will not go personal with your fight.”

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BREAKING! APC 2027: ‘Consensus Ticket Requires Consent of All Aspirants’ Says National Chair

Published

4 hours ago

April 21, 2026

EMMANUEL AGAJI

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The National Chairman of the All Progressives Congress (APC) has stated that the party can only adopt a consensus candidate where all aspirants voluntarily agree to the arrangement.

Speaking on the party’s nomination process, the chairman emphasized that consensus candidacy is not imposed but must be the product of mutual consent among all contenders seeking the ticket.

In a statement, the chairman clarified that any consensus candidate must have backing of all the contenders.

— Prof. Nentawe