Hon Gboyega Nasir Isiaka, Chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, has announced the disbursement of N84.2 billion in student loans.
This initiative aims to bolster access to higher education, alleviate financial burdens, and drive national development.
Isiaka, representing Yewa North/Imeko-Afon Federal Constituency, shared these insights during a paper presentation at the 36th Annual General Conference of the Federal Government College Maiduguri Old Students’ Association (FEGOCOMOSA) in Abeokuta. His presentation, titled “Empowering The Next Generation: Education As A Catalyst For National Development (Student Loans Access To Higher Education Act, 2024 In Perspective),” highlighted significant milestones achieved by the student loan scheme.
“The student loan scheme is pivotal for unlocking Nigeria’s vast potential,” Isiaka emphasized. “With over half of our population under the age of 30, we have an immense wellspring of untapped human potential.”
He detailed that 351,317 students have registered on the Nigerian Education Loans Fund (NELFUND) portal, with 258,943 applying for loans, demonstrating the scheme’s reach and impact.
The disbursed funds, comprising N27.5 billion for institutional loans and N56.7 billion for upkeep facilities, signify more than just financial aid.
“This is more than just a statistic – it represents hope, opportunity, and a commitment to empowering our students to succeed,” Isiaka remarked.
While celebrating these achievements, Chris Abu, National President of FEGOCOMOSA, raised concerns about the challenges facing Nigeria’s educational landscape. He lamented the insecurity affecting unity schools’ mission to foster national cohesion and called for a stakeholders’ meeting to address these issues.
Abu also urged collective action from federal, state, and local governments, alongside the private sector, to address the declining standards in education.
“The current state of the nation’s educational system is not palatable at all. We need collaboration to improve infrastructure and human resources,” he urged.
Source: Tribune