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Education: NANS urges transparency in disbursement of student loans for sustainability

President Bola Ahmed Tinubu

*Pedro Obi, President of National Association of Nigerian Students, urges the Federal Government to appoint individuals of unquestionable integrity and competence to oversee the scheme in order to ensure success and guarantee its sustainability in the country

Isola Moses | ConsumerConnect

For success of the scheme, and to ensure its sustainability in the education sector, the National Association of Nigerian Students (NANS) has called for transparency in the implementation of the student loan scheme.

Mr. Pedro Obi, National President of NANS, who noted this in a statement Wednesday, May 29, 2024, in Abeokuta, the Ogun State capital, urged the Federal government to appoint individuals of unquestionable integrity and competence to oversee the scheme.

Obi said doing this would not only ensure the success of the scheme but also guarantee its sustainability in the end.

It is recalled the National Assembly (NASS), in Abuja, FCT, had passed the Amended Student Loan Bill into law March 20, and President Bola Ahmed Tinubu, subsequently, assented to it April 3 this year.

Commending President Tinubu’s administration for initiating the student loans scheme, the National President of NANS also urged the Federal Government to engage all relevant stakeholders in the implementation of the scheme.

He further stated: “The loan if properly implemented will not only alleviate the financial burdens faced by many students and their families, but is capable of ending the mass exodus of Nigerian students outside the country for studies.

“To ensure the success and integrity of the student loan scheme, we urge the Federal government to prioritise transparency and accountability in the disbursement of the loans.”

The statement also noted: “This must be done by engaging all relevant stakeholders. We also urge the government to put in place transparent and effective monitoring mechanisms to track the disbursement process and ensure that funds are allocated appropriately.

“This includes regular audits, public reporting, and feedback channels for students to report any issues or irregularities.”

Obi added: “The loan scheme should be designed to be inclusive and accessible to all eligible students, regardless of their socio-economic background.”

ConsumerConnect reports the students’ the National Association of Nigerian Students recently commended the Federal Government, particularly Tinubu and the Management of the Nigerian Education Loan Fund (NELFUND), led by Mr. Akintunde Sawyerr, for their dedication to promoting accessible and inclusive education for all Nigerian students.

NANS particularly applauded the Nigerian Government for the announcement it made May 24, 2024, as the official date for opening the student loans application portal.

Senator Gundu Mimidoo Joy, NANS Spokesperson, stated that the announcement is a testament to the government’s commitment to supporting the academic aspirations of our students.

The body also said: “This initiative will undoubtedly alleviate the financial burden that many students face in pursuing their education.

“The student loan portal, designed with a user-friendly interface, will make it convenient for students to submit their applications and access the financial assistance they need to achieve their educational goals.”

The Spokesperson stated: “NANS, encourage all eligible students to seize this opportunity to invest in their future and contribute to our nation’s growth and development.

“Education is the key to progress, and this initiative will empower countless students to fulfill their potential and positively impact society.

“We urge students to visit the official portal at nelf.gov.ng to start their loan application process.

“For any queries or assistance, do not hesitate to reach NELFUND via email at info@nelf.gov.ng or through their social media handles.”

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