President Bola Tinubu has officially launched the Student Loan Scheme.

At the time of reporting, Tinubu is inaugurating a presidential committee to oversee the Scheme at the State House, Abuja, following recent amendments.

To initiate the programme, the President approved ₦35 billion to be allocated by the Nigerian Education Loan Fund (NELFund) based on specific criteria, targeting an initial 70,000 applicants.

Jim Ovia, appointed by Tinubu as Chair of the NELFund Governing Board, approved the loan disbursements during the board’s inaugural meeting in Abuja last month.

During the inauguration at the Villa, Tinubu is expected to outline the terms of reference for the implementation team to ensure the scheme stays on track.

More details to follow…