The Nigerian Education Loan Fund (NELFUND) has received more loan applications from institutions in the northern part of the country, according to Managing Director, Akintunde Sawyerr.
Briefing journalists at the State House on Wednesday, July 17, after the presidential launch of NELFUND by President Bola Tinubu, Sawyerr attributed the high demand from northern institutions to their proactive approach and effective networking.
However, he noted that there is growing awareness and interest in the southern regions, despite initial skepticism and concerns about the legitimacy of the programme.
Sawyerr assured that the disbursement program is real and backed by President Bola Ahmed Tinubu, aiming to alleviate doubts and increase participation from southern institutions.
“The zones with the highest and the segments of the institutions with the highest, I can say to you that institutions in the north of the country have been very proactive at supporting and helping their students and in providing their data to us. So that’s where the learning is currently, but that’s to be expected because they seem to be very well organized in terms of networking in the northern part of the country.
“In the southern part of the country, there’s growing awareness and there’s growing interest. I think there’s been a lot of skepticism, generally and I think the most skeptical parts of the country are in the south, the question of everything; is it true? Is it real? Is it a scam? and I think what you witnessed today with us actually starting this disbursement programme is to say that ‘this is not NO FUND, this is NELFUND’.
“We’re trying to ensure that people know that this is not a trick, it’s not a game. Mr. President has backed this with cash and we’re going to disburse that cash. So I think we’ll see the skepticism that you can find mainly in the southern part begin to disappear when we start paying out”, he said.
Universities have the highest demand for loans, followed by polytechnics and teacher training colleges, a trend expected to continue.
“In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans, then I think it’s followed by the polytechnics and then the teacher training colleges and I think it’s probably going to remain that way, the bias is going to remain that way”, Sawyerr explained.
The Managing Director explained why private institutions have been excluded from the scheme, saying that because they charge more expensive school fees, if the government provides funds for them, they will be unable to meet the expectations of the initiative.
Sawyer affirmed that the loan scheme will have a positive impact on many lives in the country, saying “It’s a great privilege, great honour to be able to be part of a programme that will change so many lives over so long a period into the future.
-Thenation
