NELFUND Explains South-East Exclusion from Recent Loan Disbursements

 

The Nigerian Education Loan Fund (NELFUND) has clarified why South-East institutions were not included in the recent loan disbursements for tertiary institutions.

NELFUND, established under the Higher Education Act 2023, provides loans to assist low-income Nigerians with their tuition fees. There had been claims that South-East institutions were omitted from the loan distribution.

The Foundation for Environmental Rights, Advocacy and Development (FENRAD) criticized the exclusion and accused the National Assembly’s education committees of not addressing the issue.

NELFUND spokesperson Nasir Ayitogo responded, stating that geopolitical zones are not considered in the disbursement process. He explained that the South-East institutions were not included because they did not respond to NELFUND’s verification requests. 

Ayitogo noted that NELFUND had sent a verification list to eligible institutions to confirm student details but had not received responses from some, including those in the South-East. As a result, payments were only made to institutions that completed the verification process.

In July, NELFUND initially listed 36 institutions for disbursement, including two from the South-East: Kingsley Ozumba Mbadiwe University and Imo State University of Agriculture and Environmental Sciences. An updated list in August increased the South-East institutions to nine, including Abia State University and Ebonyi State University.

Despite the update, none of the South-East institutions received funds from the latest disbursement, prompting the South-East caucus of the National Assembly to urge compliance with NELFUND’s verification process to facilitate future loan distributions.

Former House of Representatives member, Hon. Lanre Laoshe, has repaid a student loan of N3.18 million

Former House of Representatives member, Hon. Lanre Laoshe, has repaid a student loan of N3.18 million 45 years after initially borrowing from the government, according to the Nigerian Education Loan Fund (NELFUND).

NELFUND spokesperson Nasir Ayitogo announced that Laoshe, who took out a loan of N1,200 in 1979, has fully repaid it with interest. Laoshe expressed his gratitude for the financial assistance he received from the now-defunct Federal Government Student Loan Scheme during his studies.

To determine the current value of the original loan, Laoshe consulted historical exchange rate data from the Central Bank of Nigeria (CBN). In 1979, the exchange rate was $1.00 = N0.596, making the N1,200 loan equivalent to $2,013.42. With the current exchange rate of $1.00 = N1,583.98, the equivalent repayment amount today is N3,189,217.00.

Laoshe issued a bank draft for this amount to NELFUND, expressing his appreciation to the Federal Government. The revised Student Loan Act of 2024 aims to improve accessibility to education for all Nigerian students by addressing financial barriers and will be supported by various funding sources, including taxes, natural resource profits, education bonds, and contributions from individuals and organizations.

Npower News: Feedback Received From The Ministry for Humanitarian Affairs and Poverty Alleviation

Npower News reports that in a live session with the Npower Publicity Secretary, Adeshina A. Adex, it was revealed that the Ministry for Humanitarian Affairs and Poverty Alleviation is aware of the concerns raised by the National Association of Npower beneficiaries regarding the 9-12 months of unpaid stipends. The ministry assured that once the new Chief Executive Officer begins his role, they will address the issue and work on processing the payments.

Adeshina A. Adex encouraged beneficiaries to share his updates within other groups and mentioned that Comrade Godfrey Agasi, Chairman of Npower Benue State, recently visited Abuja. Agasi received feedback from the Ministry and will soon share a video update with beneficiaries, allowing them to hear directly from him.

Watch video below.

A pro-democracy group in Abia State, the Foundation for Environmental Rights, Advocacy and Development (FENRAD), has criticized the National Assembly’s Education Committees for leaving South-East universities out of the Nigerian Education Loan Fund (NELFUND)

A pro-democracy group in Abia State, the Foundation for Environmental Rights, Advocacy and Development (FENRAD), has criticized the National Assembly’s Education Committees for leaving South-East universities out of the Nigerian Education Loan Fund (NELFUND). 

In a statement issued by FENRAD’s Executive Director, Nelson Nnanna Nwafor, the group expressed concern over the lack of action from the education committees regarding the South-East's exclusion from the loan program. They lamented that only the South-East National Assembly caucus has addressed the issue, while broader intervention from the full House or the education committees could have provided national reassurance.

FENRAD recalled that during President Jonathan's administration, the Presidential Special Scholarship Scheme for Innovations and Development (PRESSID) was discontinued under President Buhari due to claims of inadequate northern representation, affecting many South-East students who were set to study abroad.

The group also noted that under Buhari's administration, a new tertiary education policy named "Education for Change; Ministerial Plan 2018-2022" was introduced, resulting in the creation of 10 specialized universities across Nigeria, none of which were located in the South-East. Although the Federal University of Technology, Owerri (FUTO) was to benefit from an upgrade, progress on this has been unclear.

FENRAD criticized the slow progress in verification processes for South-East universities and the lack of representation among the 27,000 students who have benefited from NELFUND so far. They questioned the inclusivity of the policy and urged the federal government to ensure that South-East students and universities are included in the scheme.

The Foundation highlighted that the South-East contributes to federal revenue and should, therefore, be included in federal education funding. They also urged federal lawmakers to address this issue and ensure that the South-East benefits from federal programs.

Npower News: Comrade Godfrey Abasi On His Way To The Ministry for Humanitarian Affairs and Poverty Alleviation

Npower News reports that Comrade Godfrey Abasi, the chairman of Npower in Benue State, is heading to the Ministry for Humanitarian Affairs and Poverty Alleviation to follow up on a letter submitted last week. Npower Publicity Secretary Adeshina A. Adex announced this through the National Association of Npower Beneficiaries' Facebook page and mentioned that Abasi has invited anyone interested in joining him to contact him. Adex also stated that he will provide an update later on the results of Abasi's visit to the ministry. Watch the video below.