Nigerian Government Launches Student Loan Scheme.

The Federal Government has officially started the Student Loan Scheme after making some minor changes to it. President Bola Tinubu is now launching a presidential committee to advance the Scheme in the State House in Abuja as of the time this brief report was filed.

The President recently approved ₦35 billion to launch the project, with 70,000 first candidates to be selected by the Nigerian Education Loan Fund (NELFund) based on predetermined criteria. During the NELFund's first meeting in Abuja last month, Jim Ovia, who was appointed by Tinubu to chair the governing board, approved the loan payment to successful applicants.

Tinubu is anticipated to provide the terms of reference to the implementation team during the inauguration now taking place in the Villa in order to make sure the programme stays true to its original purpose.

More to come on this.