Student Loan Distribution Not Based on Geopolitical Zones – NELFUND

The Nigerian Education Loan Fund (NELFUND) has clarified that the allocation of its funds is not influenced by geopolitical zones.

This clarification follows the release of ₦2.94 billion to 19 universities for 27,667 students. The disbursement list showed that universities in the South-East and South-South regions were excluded, leading to criticism from some Nigerians.

Twitter user @Donaldsplendo expressed frustration, noting the lack of funds for institutions like UNIZIK, FUTO, MOUAU, and UNN, and questioning the fairness of the allocation. Another user, @Tonia_dimma, also highlighted the absence of funds for the South-South region, despite claims of national unity.

NELFUND responded via its official X account (@nelfund), stating that geopolitical zones do not affect fund distribution. The agency explained that payments are made to institutions that have completed the verification process. As institutions in the South-East have not yet responded, their students have not yet benefited from the scheme.

NELFUND also announced receiving ₦50 billion from the Economic and Financial Crimes Commission (EFCC). The Head of Corporate Communications, Oseyemi Oluwatuyi, expressed appreciation for the additional funds, which were directed by President Bola Tinubu to enhance the student loan program. This funding represents a significant boost to educational access and reflects the administration’s commitment to supporting students across Nigeria. The fund praised President Tinubu for his dedication to education and his leadership in improving the future prospects of Nigerian students.

Remi Tinubu Launches Renewed Hope Economic Initiative in Abuja and Delta

On Thursday, First Lady Senator Remi Tinubu, through her foundation, the Renewed Hope Initiative (RHI), kicked off the disbursement of recapitalization grants for 1,000 women petty traders in both Abuja and Delta State. She announced that a total of N1,850,000,000 will be distributed to 37,000 women nationwide, with each receiving N50,000 to boost and expand their businesses.

Represented by Mrs. Adedayo Benjamins-Laniyi, Mandate Secretary for the Women Affairs Secretariat and FCT State Coordinator of RHI, the First Lady noted that the event will be held simultaneously across all 36 states and the Federal Capital Territory. She highlighted the RHI's acknowledgment of the challenges faced by Small and Medium Enterprises (SMEs), particularly petty traders who are crucial to local economies.

In Asaba, Delta State, Mrs. Tinubu also launched the RHI Economic Empowerment Programme, emphasizing that empowerment is central to the Tinubu administration's objectives. She confirmed that the initiative includes recapitalization grants for 1,000 women petty traders in Delta State and has been implemented across all six geopolitical zones to support the federal government's economic reforms.

Mrs. Tinubu expressed her honor at participating in the empowerment program and thanked the Governor of Delta State, Rt. Hon. Sheriff Oborevwori, and his wife for their hospitality. She reiterated the importance of supporting women petty traders to help them overcome business challenges and contribute more effectively to the economy.

The FCT Minister of State, Dr. Mariya Mahmoud, praised the initiative for its role in empowering women entrepreneurs and strengthening their economic resilience. Represented by Hajia Maijidda Adamu Musa, FCT Coordinator of the Social Investment Programme, she highlighted the value of investing in human capital through the Renewed Hope Initiative in areas such as Economic Empowerment, Education, Health, Social Investment, and Agriculture.

Mrs. Tinubu concluded by noting that the grant of N50,000 each for the selected women petty traders is aimed at helping them expand their businesses and create more jobs. She also announced an additional N50 million grant from the Delta State government, increasing the amount each woman will receive to N100,000. She reiterated that economic empowerment is a strategic priority, essential for the prosperity of families, communities, and the nation.

South-East institutions excluded as NELFUND releases student loan disbursement details for five geopolitical zones

The South-East region’s tertiary institutions were not included in the first phase of student loan disbursements by the Nigerian Education Loan Fund (NELFUND). 

NELFUND has announced that over N2.9 billion has been allocated for the tuition fees of more than 27,000 students across 19 higher education institutions in Nigeria. However, none of these institutions are located in the South-East, although institutions from the other five geopolitical zones are represented.

When asked about the exclusion of South-East institutions, NELFUND spokesperson Nasir Ayitogo told Peoples Gazette that the disbursement was not based on geopolitical zones. 

“There is no consideration of geopolitical zones in disbursement,” Mr. Ayitogo explained. He added that only institutions that have responded to NELFUND’s verification lists are eligible for funding. “We have not received any responses from South-East institutions.”

The All Progressives Congress (APC) government has faced accusations of neglecting the South-East region in political appointments and benefits since taking office in 2015. 

Former Ohanaeze Ndigbo president Emmanuel Iwuanyanwu, shortly before his death on July 25, labeled the South-East as the most marginalized geopolitical zone in Nigeria. He pointed out disparities in ministerial appointments and the lack of railway infrastructure development in the region, despite its significant trading activities.

UNILAG, OAU, and others receive N2.9 billion from NELFUND

The Nigerian Education Loan Fund has announced that it has allocated a total of N2,946,927,155 in student loans to 27,667 students across 19 institutions nationwide. This information was shared on Friday through the Fund’s X account, under the handle #NELFUND.

On August 14, 2024, it was reported that students from 22 state-owned tertiary institutions were authorized to apply for loans following a review by the Student Verification System committee, raising the total number of approved state institutions to 108.

Here is a breakdown of the approved institutions and the amounts allocated:

- University of Maiduguri: N589,001,500

- University of Ibadan: N201,114,650

- University of Ilorin: N52,897,890

- University of Benin: N24,412,500

- Federal University, Dutsin-Ma: N304,961,800

- Bayero University, Kano: N853,775,000

- Federal College of Education, Abeokuta: N1,945,700

- Federal University of Technology, Minna: N62,928,600

- Obafemi Awolowo University, Ile Ife: N50,414,000

- Federal Polytechnic, Ilaro: N8,347,465

- University of Lagos: N122,494,400

- University of Jos: N209,320,000

- Federal College of Education (Technical), Gusau: N15,600,200

- Federal College of Education (Special), Oyo: N18,502,500

- Federal University, Dutse: N207,106,000

- Federal University, Birnin-Kebbi: N130,002,800

- Modibbo Adama University, Adamawa: N83,837,850

- Federal Polytechnic, Bauchi: N7,218,800

- Federal Polytechnic, Mubi: N2,045,500

Three Planned Improvements for N-Power Before Suspension

 

In today's N-Power update, we highlight three significant developments that were anticipated for the N-Power program before its suspension a few months ago. Here are the details:

1. Prior to the suspension and under the guidance of Honourable Minister of Humanitarian Affairs and Poverty Alleviation Dr. Betta Edu, it was announced that the N-Power program aimed to recruit 5 million youths through the renewed Hope N-Power initiative. 

2. The Minister also indicated that while the current stipend is ₦30,000, there were plans to raise it to a unified amount between ₦50,000 and ₦60,000 for beneficiaries of the renewed Hope N-Power Skill Up Nigeria Program. This increase was contingent upon the agreement on a new minimum wage.

3. The N-Power program was set to undergo restructuring by the new management, with a full rollout scheduled for January 2024, following the completion of the restructuring process. 

Unfortunately, these plans were halted due to allegations of corruption against the Minister and other NSIP officials, with the EFCC's investigation still ongoing, leading to the continued suspension of the N-Power program.

NELFUND Receives ₦50 Billion from Recovered Crime Proceeds

The Nigerian Education Loan Fund (NELFUND), led by Managing Director/CEO Mr. Akintunde Sawyerr, has announced with pleasure the receipt of an additional ₦50 billion from the Economic and Financial Crimes Commission (EFCC). This funding comes following President Bola Tinubu's directive on August 4, 2024, instructing the EFCC to transfer the funds to NELFUND to enhance its student loan program.

This substantial financial boost marks a significant milestone in the administration’s commitment to improving educational access by supporting students throughout Nigeria. NELFUND extends its heartfelt gratitude to President Bola Ahmed Tinubu for his ongoing dedication to the education sector and his efforts to aid the country’s most vulnerable populations.

President Tinubu’s allocation of these funds to the student loan scheme reflects his visionary leadership and commitment to advancing Nigeria’s educational and socioeconomic development. NELFUND also expresses its thanks to the EFCC and its Executive Chairman, Ola Olukayode, for their prompt action in facilitating the fund release, ensuring that these resources are quickly available for the benefit of students.

This funding infusion will greatly enhance NELFUND’s ability to provide essential financial support, helping students achieve their academic goals without financial barriers. NELFUND is committed to managing these funds equitably and effectively, partnering with the EFCC to oversee the distribution process. With continued government and EFCC support, NELFUND aims to expand access to tertiary education and improve the employability of well-educated graduates across Nigeria.

Video: National Association of Npower Beneficiaries Submits Letter To Permanent Secretary

A video has surfaced online showing one of the Chairman of the National Association of Npower beneficiaries Mr. Kehinde James actually at Abuja submitting the invitation letter to the office of the Permanent Secretary at the Federal Government Secretariat Abuja (see attached video below). Recall that few days ago the National Association of Npower beneficiaries said that they will be going to Abuja next week Wednesday but before that an invitation letter has to be submitted to the Ministry for Humanitarian Affairs and Poverty Alleviation.

According to Npower News, as soon as this invitation is honoured by the Ministry for Humanitarian Affairs and Poverty Alleviation then the National Association of Npower beneficiaries together with other Npower representatives will be going to Abuja to discuss issues regarding Npower payment to Npower batch c beneficiaries. Npower batch c beneficiaries are being owed 9 to 12 months stipends and since the suspension of Npower the Npower batch c beneficiaries have been left in the dark awaiting the payment of their stipends all to no avail.