President Bola Ahmed Tinubu's Student Loan Initiative, Was My Idea - Omoyele Sowore

The 2023 presidential candidate of the African Action Congress, AAC, Omoyele Sowore, has disclosed that the student loan initiative started  by the administration of President Bola Ahmed Tinubu was his idea.

Omoyele Sowore stated this in an interview with Seun Okinbaloye on the latest episode of his Podcast.

Omoyele Sowore noted that some of his ideas were being stolen by the political class, which left people with no ideas in power and people with ideas relegated to the sidelines.

“This student loan that they’re doing, we didn’t promise student loans, we promised grants. ₦100,000 was what we proposed per semester to Nigerian students, and people said it was impossible.

When they, Tinubu government, took the idea, someone turned it into a loan.”

The human rights activist Omoyele Sowore noted that the government of President Bola Ahmed Tinubu copying their ideas was as a result from people not paying attention to candidates who had ideas and celebrating the ruling class.

Source: https://dailypost.ng/2024/06/25/tinubus-student-loan-coastal-highway-project-were-my-ideas-sowore/

Student Loan Application For State-Owned Institutions Postponed For Two Weeks - NELFUND

The Management of Nigerian Education Loan Fund (NELFUND) today, Tuesday June 25th, announced a two weeks postponement of the student loan application process for student loan for state-owned institutions due” to low data submissions,” a statement by NELFUND said in Abuja.

NELFUND said the decision was necessitated by the failure of several state-owned institutions to upload the required student information and fee information to the NELFUND Student Verification System.

“To date, only a limited number of state-owned institutions have successfully completed the data submission process. These include twenty state universities out of forty eight, twelve state colleges out of fifty four, and two state polytechnics out of forty nine.

“While we acknowledge the efforts of these institutions, the failure to submit data from the remaining state institutions poses significant challenges to ensuring a seamless and accurate verification process for student loan applicants.

“The application window, initially set to open on June 25, 2024, will now commence on July 10, 2024.”

NELFUND said the extension will provide additional time for state institutions to comply with the data submission requirements and ensure their students can benefit from the Federal Government student loan scheme.

To foster an efficient and error-free student loan application process, it is crucial that all state institutions provide complete and accurate information.

This includes JAMB numbers, matriculation numbers, admission numbers, full names, level, faculties, departments, duration of program, fees, and gender of all eligible students.

Incomplete or incorrect data submissions will result in student loan application delays and potential disqualification for affected students.

NELFUND urged all state institutions to speed up their data submission processes and ensure the accuracy of the data provided.

NELFUND further warned that state-owned institutions that fail to meet the revised deadline risk disadvantaging their students, who depend on these student loans to support their education.

Source: https://punchng.com/breaking-nelfund-postpones-student-loan-application-for-state-owned-institutions/?amp

3 Steps To Apply For NELFUND Student Loan In Nigeria

The Nigerian Education Loan Fund (NELFUND) Student Loan is a financial support program that is established to assist Nigerian students facing financial limitations due to the exorbitant cost of tertiary education.

The Nigerian Education Loan Fund (NELFUND) student offers student loan to qualified Nigerian students to cater for a wide range of educational expenses, including tuition fees, textbooks, accommodation, and other expenses in approved tertiary academic institutions, vocational and skills acquisition institutions in Nigeria.

So, whether the student aspire of attending a renowned university, a specialized institution, or a vocational school, the NELFUND student loan can help turn students' aspirations into reality. All the student need to do is to apply for the student loan on the student loan portal.

How To Apply For NELFUND Student Loan In Nigeria

Student loans can be a lifesaver for Nigerian students who need financial help to chase their academic dreams. The following below will guide  applicants on the easiest procedure of applying for a student loan in Nigeria.

Step 1: Meet Eligibility Criteria For Student Loan

To apply for the NELFUND student loan, the student must meet the following eligibility criteria:

1) Be a Nigerian citizen

2) Be admitted to a recognized tertiary institution in Nigeria

3) Provide proof of admission

4) Provide evidence of matriculation

5) Have a good academic record

Step 2: Gather Required Documents For Student Loan Application

The applicant should make ready the following documents below:

1) Admission letter from Jamb

2) Matriculation Number

3) Jamb registration number

4) NIN

5) BVN

6) School ID Card (optional)

7) And Other particulars as requested by the student loan portal

Step 3. Visit the student loan portal and fill student loan application form

Students applying for the student loan through the student loan portal should follow the process below:

1) Go to the official student loan portal: http://www.nelf.gov.ng

2) Navigate to the student loan application section.

3) Fill out the student application form with accurate and up-to-date data.

4) Upload the required documents.

5) Double-check all entries for accuracy.

6) Submit the completed student loan application.

7) Await verification and approval.

8) check your email frequently and the student loan portal for updates on your student loan application status.

9) Applicants might be requested to provide additional information.

10) Receive the Loan

Kindly note that if a student is approved for the student loan only the upkeep loan will be disbursed to the student's bank account, the student loan will be disbursed to the institution, student loan received should only be used for academic expenses only.

Applying for a student loan in Nigeria can be a seamless process if the student follow the above steps. Applicants are to meet the eligibility criteria, gather the required documents, and apply for the student loan, and receive the student loan.
The student loan is only open to students of Nigerian tertiary institutions both federal and state institutions and certain criteria have to be met before students can be eligible to apply for the student loan.

Features of the student loan

The following below are the features of the student loan:

1) The loan is interest-free.

2) The student loan targets Nigerian undergraduates and is a financial support for students to pursue their academic aspirations.

3) The student loan will reduce financial limitations on students and families.

4) The student loan affords students equal access to higher education.

5) The repayment of student loan commences two years Post-NYSC

Source: https://newtelegraphng.com/how-to-apply-for-student-loan-in-nigeria/

Npower News on Npower Registration and Npower Payment

According to Npower News on Npower registration from reliable sources online, 

Npower registration 2024 will start before the end of the year. Npower portal will be opened soon. The Npower program will be for one year duration.

Stipend will be approved in line with the new minimum wage. 

According to Npower News on Npower payment, the EXCOS and beneficiaries are still awaiting feedback from the letter being sent to former Vice President Alhaji Atiku Abubakar regarding non payment of 9-12 months stipends to beneficiaries of Npower batch c.

NELFUND To Pay Approved Student Loan Of Seventy Thousand Students

The student loan for no fewer than seventy thousand students in federal tertiary institutions whose student loan applications have been approved by the Nigerian Education Loan Fund (NELFUND) are expected to be paid to their respective institutions of learning any moment from now.

Also, the student loan application of fifty thousand students is currently undergoing evaluation for possible approval within the next one month for onward payment.

No fewer than 1,200,000 students studying in the various federal tertiary institutions in Nigeria are expected to benefit from the student loan, this figure is besides students in state-owned tertiary institutions who are expected to come on stream tomorrow, 25th June, 2024.

Credible intelligence who preferred not to be mentioned in print equally confirmed that the sum of ₦35,000,000,000 has been approved for payment across one hundred and twenty four federal tertiary institutions, adding that on average, NELFUND receives one thousand five hundred student loan applications daily.

“The ₦35,000,000,000 cuts across all the one hundred and twenty four federal institutions that we have rolled out so far. However, we are still getting applications from students from federal institutions before we roll out the state institutions.

“While the state institutions will be rolled out, we will still be accepting applications from federal institutions. Applications will be on 24/7 because the calendars of each school are not the same. The funds would be disbursed soon”.

Source: https://newtelegraphng.com/loan-nelfund-to-pay-approved-tuition-fees-of-70000-students/

SMEDAN and Anambra State Government Partner on a ₦1,000,000,000 Loan Portfolio for Small and Medium-sized Enterprises (SMEs)

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has inked a Memorandum of Understanding (MoU) with the Anambra State government to foster the growth of Small and Medium-sized Enterprises (SMEs) in the state with ₦1,000,000,000 in a matching fund arrangement.

The Memorandum of Understanding (MoU) was signed in Awka, the state capital, on Friday, November 3, by Mr. Charles Odii, the Director General of SMEDAN, and Honourable Christain Udechukwu the Honourable commissioner for Industry, Anambra State. Under the terms of the agreement, both institutions will each contribute ₦500,000,000 to drive Small and Medium Enterprise (SME) growth in the state by propelling innovation, expansion, and job creation.

This development underscores Mr. Charles Odii’s commitment to fulfilling his pledge to ensure Small and Medium Enterprises (SMEs) have access to vital funding across Nigeria. Following his appointment as Director General last month, Mr. Charles Odii has been actively engaging with bank executives and other key players in the financial sector to advocate for affordable credit options for Small and Medium Enterprises (SMEs), including single-digit loans.

Commending the Anambra State government for their commitment, the Director General of SMEDAN, Charles Odii stated, “This level of meaningful support is what we expect from state governments nationwide, given the established importance of SMEs in driving economic development and prosperity. Small businesses are the backbone of employment and contribute nearly half of our GDP. If we intend to jumpstart the economy, we must invest in them and provide substantial support for their growth.”

Furthermore, the Director General of SMEDAN, Charles Odii assured that SMEDAN, under his leadership, is exploring both domestic and international opportunities to mobilise and channel funds to Small and Medium Enterprises (SMEs) across the country. Charles Odii stressed that this approach will accelerate the realisation of President Bola Ahmed Tinubu's renewed Hope Agenda, which is centred on economic prosperity.

“We have initiated discussions with several local and international organisations to address funding and capacity development for SMEs. Just this week, we launched the SMEDAN Climate and Green Energy Desk (SCGED) to support climate entrepreneurs addressing environmental challenges hindering SME growth in the nation. We are witnessing strong interest from global stakeholders eager to back local initiatives combating climate change and unlocking fresh economic opportunities,” Charles Odii said.

In addition, Charles Odii emphasized that SMEDAN will ensure that the loans, once accessible to Small and Medium Enterprises (SMEs), will be disbursed in a timely, transparent, and equitable manner, eliminating any obstacles preventing deserving Small and Medium Enterprises (SMEs) from accessing these vital loans.

Charles Odii affirmed that SMEDAN is actively engaging with all its financial partners nationwide to assess and enhance the loan disbursement process, ensuring that loans made available to Small and Medium Enterprises (SMEs) through various products and initiatives effectively serve their intended objectives.

Source: https://smedan.gov.ng/smedan_anambra/

Federal Government of Nigeria Set To Pay ₦35,000,000,000 To Seventy Thousand Successful Student Loan Applicants

The Federal Government of Nigeria and the Nigerian Education Loan Fund (NELFUND) have concluded plans to pay out a total of ₦35,000,000,000 in fees and monthly upkeep allowances to seventy thousand applicants who are already successful in their student loan applications.

The successful student loan applicants, who are students of federal government-owned tertiary institutions across the country, were drawn from the pool of one hundred and twenty thousand applicants who sent in their student loan applications as of Friday, 21st June 2024.

Sources confirmed that the successful candidates can check their student loan portal on the NELFUND'S portal to know the status of their student loan applications.

Though the spokesman for NELFUND, Nasir Ayitogo, said he could neither confirm nor deny the information when contacted on phone for confirmation, other highly placed sources within NELFUND confirmed the development.

Mr Nasir Ayitogo, however, said NELFUND was working hard to fulfil its mandate of bringing smiles to the faces of indigent Nigerian students, who he said are eager to benefit from the student loan as approved by President Bola Ahmed Tinubu.

The sources said each student loan applicant’s status is expected to show the processes of verification up till when approved or denied, and when the student loan are eventually disbursed.

Student loan distribution

According to multiple sources within NELFUND, the various student loan applicants will have their fees charged by their institutions paid directly into the institutions’ bank accounts.

The fees to be paid, according to these sources, will be the total of fees payable by students based on their courses of study which could include other sundry fees such as departmental levies, laboratory fees, and health insurance fees, among others.

One of the sources, who does not want to be quoted for lacking the authority to speak on the matter, said: “What is clear is that when the fees for these seventy thousand applicants were summed up, they amounted to ₦35,000,000,000 and this will be paid this week.

“The applicants will also receive a monthly allowance for their upkeep.”

The sources said the school fees will be paid to different institutions only at the beginning of the sessions, “so the funds wouldn’t be paid for all at the same time.”

₦20,000 monthly stipend

Sources have also confirmed that NELFUND has concluded plans to pay ₦20,000 every month to all the successful student loan applicants for every year of their studentship.

“This amount will total ₦240,000 per year, but to be qualified in the next year, the applicant will have to reapply because it is a refundable loan and not a gift,” another source said.

The source clarified that whether the beneficiaries’ schools are in session or not, the ₦20,000 upkeep allowance will be paid every month to allow for their upkeep even while at home.

More student loan applications being evaluated

Meanwhile, the sources confirmed that a total of fifty thousand additional student loan applications are already currently being evaluated for possible consideration, noting that NELFUND receives an average of one hundred and fifty student loan applications per day.

“These fifty thousand applications for the second batch of the applicants from the federal institutions that are currently being reviewed. As soon as the verifications of their details, including their studentship, and details of guarantors, among others, are confirmed, their fees will be paid, and allowances forwarded to them.”

Student loan portal to open for state-owned institutions

NELFUND had earlier confirmed that student loan applicants from tertiary institutions owned by the state governments across the thirty six states of the federation will be onboarded beginning from Tuesday, 25 June while also announcing that it would publish the full list of institutions that have submitted their complete students’ information for the Student Verification System (SVS) portal on 24th June 2024.

NELFUND announced this on its X handle in a statement signed by Mr Nasir Ayitogo, who said the list will comprise both state and federal institutions “to ensure transparency and to encourage due access and participation in the scheme, of both undergraduate applicants and tertiary institutions in this critical exercise.”

“It is commendable that many federal institutions have already completed the exercise having been the first wave, whilst the process of uploading the data to NELFUND SVS is currently ongoing for the state-owned institutions,” the statement noted.

NELFUND said for student loan applicants to access the student loan, the individual’s details must feature in the information set sent by the institution to the NELFUND SVS, where it claims automatic applicant verification can take place seamlessly.

The Nigerian Education Loan Fund (NELFUND)

The Nigerian Education Loan Fund (NELFUND) was created by the Access to Higher Education Act, which President Bola Ahmed Tinubu signed.

NELFUND is tasked with handling all student loan requests, grants, disbursement, and recovery of the student loans.

NELFUND is being funded from multiple streams and will engage in other productive activities. NELFUND will also be funded through donations, gifts, grants, endowments, and revenue accruing to the fund from any other source, according to the Act.

Source: https://www.premiumtimesng.com/news/706186-exclusive-student-loan-nigerian-govt-set-to-pay-n35-billion-to-70000-successful-applicants.html

Npower News 23rd June 2024 Beneficiaries Of Npower Batch C Writes To Former Vice President Alhaji Atiku Abubakar

According to Npower News, the National Chairman comrade Muhammad Habibu Abubakar and the National Vice Chairman Idris Sani have written a letter to former Vice President of Nigeria, Alhaji Atiku Abubakar over the non payment of 9-12 months stipends being owed beneficiaries of Npower batch c.

An original copy of the letter is shown below:

Source: https://www.facebook.com/share/p/kKUixQtwwqzsh7P6/?mibextid=qi2Omg

President Bola Ahmed Tinubu Approves ₦35,000,000,000 for Student Loan Scheme Take-off

President Bola Ahmed Tinubu has approved ₦35,000,000,000 for the take – off of the student loan scheme.

So far, seventy thousand applications have been approved by the Nigerian Education Loan Fund (NELFUND).

Another fifty thousand applications are currently being evaluated and would be approved within one month.

The figures were exclusively obtained from sources in NELFUND.

According to the Managing Director/Chief Executive Officer, NELFUND, Dr. Akintunde Sawyerr, the student loan will be disbursed based on the timetable and calendars of the academic session of each institution.

Dr. Akintunde Sawyerr, said: “The funds will be disbursed based on the timetable and calendars of the academic session of each institution. The portal for students to apply for the loan opened on May 24, 2024.

“The portal will be permanently open because institutions don’t have a uniform calendar,” Dr. Akintunde Sawyerr, said.

No fewer than 1,200,000 students are expected to benefit from the student loan scheme of President Bola Ahmed Tinubu's administration.

Applicants are required to provide their Joint Admissions and Matriculation Board (JAMB) letter, National Identification Number (NIN), and Bank Verification Number (BVN) to apply for the student loan.

Students in Federal Government-owned tertiary institutions will be the first batch of beneficiaries of the student loan scheme.

Students from state-owned tertiary institutions will benefit from the student loan scheme too.

The Nigerian Education Loan Fund (NELFUND) said it would start receiving student loan applications from students in state-owned tertiary institutions from June 25, 2024.

The student loan, which is an equivalent of the tuition fees of the benefitting students, would be paid directly to the students' institutions.

But stipends also known as upkeep student loans would be paid directly to beneficiaries on a monthly basis to assist students buy other things that can make them comfortable while pursuing their education.

The Nigerian Education Loan Fund (NELFUND), is working with one hundred and twenty six tertiary institutions on the student loan scheme.

The source said: “President Bola Tinubu has graciously approved ₦35,000,000,000 for the student loan scheme. The Nigerian Education Loan Fund (NELFUND) are awaiting disbursement of the student loan.

“About seventy thousand applications have been approved by NELFUND management. fifty thousand applications are currently being evaluated. These applications will be approved within 30 days.

“We receive an average of one thousand five hundred applications a day.

“Mr President has provided enough funds to accommodate every Nigerian student who desires the loan.”

President Bola Ahmed Tinubu on April 3 signed into law the bill on the student loan scheme in line with his electoral promise that no Nigerian student would drop out of school on account of lack of funds.

According to the law, repayment of the student loan will start two years after the completion of the National Youth Service Corps (NYSC) programme.

The ambitious student loan scheme will be funded with 1% of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).

Source: https://thenationonlineng.net/tinubu-okays-n35b-for-student-loan-scheme-take-off/

SMEDAN Select Programme (SSP)

1) What is SMEDAN Select Programme about?

The SMEDAN Select Programme is aimed at empowering Micro Small and Medium Enterprises (MSMEs) in Nigeria. SMEDAN Select Programme provides support through capacity building, market access, networking, funding, and resources tailored to the needs of participating Micro Small and Medium Enterprises (MSMEs).

Eligible Nigerian citizens who own or manage Micro Small and Medium Enterprises (MSMEs) across various sectors can apply for the SMEDAN Select Programme, which offers opportunities for training, mentorship, market linkages, and other forms of assistance.

2) Who is SMEDAN Select Programme for?

SMEDAN Select Programme is designed for Nigerian citizens who own or manage micro, small, and medium enterprises (MSMEs). SMEDAN Select Programme targets entrepreneurs seeking to grow their businesses and enhance their competitiveness in the market.

The SMEDAN Select Programme is open to individuals across various sectors, including agriculture, manufacturing, services, and technology.

3) What do I get?

Participants of this SMEDAN Select Programme receive benefits including access to capacity-building workshops, training sessions, and mentorship programs aimed at enhancing entrepreneurial skills.

Participants also gain opportunities for market access to local, regional and international markets.

Frequently Asked Questions Regarding The SMEDAN Select Programme

Q. What types of support are available through the SMEDAN Select Programme?

A. Support may include access to training and workshops, mentorship, market linkages, funding opportunities, access to technology and innovation, and other relevant resources tailored to the needs of participating Micro Small and Medium Enterprises (MSMEs).

Q. Is there a cost associated with participating in the SMEDAN Select Programme?

A. SMEDAN Select Programme typically strives to make its programmes accessible to Micro Small and Medium Enterprises (MSMEs) at minimal or no cost. However, participants may need to cover certain expenses such as travel and accommodation if required for participation in specific activities.

Q. How are participants selected for the SMEDAN Select Programme?

A. Selection processes may vary but are often based on criteria such as business viability, innovation, growth potential, and the impact of the business on the economy. Applicants may be required to submit business plans, undergo interviews, or participate in other assessment activities.

Q. What happens after I am selected for the SMEDAN Select Programme?

A. Selected participants typically undergo various training sessions, workshops, and other capacity-building activities designed to enhance their skills and capabilities. They may also receive support in accessing markets, funding, and other resources to help scale their businesses.

Q. How long does the SMEDAN SELECT Programme last?

A. The duration of the SMEDAN Select Programme may vary depending on the specific edition and activities involved. Participants are usually provided with detailed timelines and schedules upon selection.

Q. How can I apply for the SMEDAN Select Programme?

Information on how to apply for the programme, including application procedures, deadlines, and requirements, is usually provided through official SMEDAN communication channels such as their website, social media platforms, or designated application portals. Visit here https://smedan.gov.ng/our-programs/ssp/ to apply.

Take the first step towards growth by registering your interest for the SMEDAN Select Programme.

Source: https://smedan.gov.ng/our-programs/ssp/

Npower News: Latest News Regarding Betta Edu The Former Minister for Humanitarian Affairs and Poverty Alleviation

According to Npower News regarding Betta Edu the former Minister for Humanitarian Affairs and Poverty Alleviation, traders in Lagos State, as well as women, youths, and religious leaders, have appealed to President Bola Ahmed Tinubu to reinstate the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu. The suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, has warned of potential legal action against the British Broadcasting Corporation (BBC) for purported defamation of character.

According to Npower News, the Economic and Financial Crimes Commission (EFCC) has disclosed that it has recovered ₦30,000,000,000 from the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu.

The House of Representatives has urged the Federal Government of Nigeria to speed up its investigation into the suspended Minister for Humanitarian Affairs and Poverty Alleviation, Betta Edu. The fate of the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu remains uncertain following her suspension.