Kunle Adelabu
-Pledges support for IDPIL’s vocational initiative
The Managing Director/Chief Executive Officer (MD/CEO), Nigerian Education Loan Fund (NELFUND), Mr Akintunde Sawyerr, has clarified that students that are getting the loan initiated by the administration of President Bola Tinubu, are not expected to pay back until they have secured paid employment.
Mr Sawyerr, who was the Special Guest of Honour at the third edition of the presentation of the N30milion scholarship and bursary awards to about 300 students in Ikorodu Division, by the Odofin Adewunmi Ogunsanya led Ikorodu Division Peace Initiative Limited (IDPIL), disclosed this at the weekend.
The well – attended event took place at the Ultra – Modern Ikorodu Town Hall, Ikorodu.
The NELFUND boss explained that the loan repayment is required two years after the loanees have completed their NYSC service, provided they have secured paid jobs. Thus, any loanee that is yet to secure a paid job, is not entitled to start repayment.
“NELFUND is more than a financial institution, itt is a partner in your journey to success.
“Our mission is to ensure that no Nigerian, I repeat, no Nigerian is denied the opportunity to pursue higher education due to financial burdens. We believe that by investing in your education, we are investing in the future of Nigeria.
“The Nigeria education loan fund was created under the visionary leadership of President Bola Hammed Tinubu, GCFR, to serve as a life line for students who are determined to pursue their education despite financial challenges.
“Our mandate is clear; to provide financial assistance that enables Nigeria students to access higher education regardless of their economic backgrounds. Through NELFUND, we offer student loan that covers tuition fees and optionally, upkeeps, stipend allowance to help manage daily expenses.
“But our commitment goes beyond just providing loans, we are dedicated to empowering youths to succeed academically and professionally”, he said.
Clarifying issues on the repayment, Mr Sawyerr said:
“The dedicated terms of this loans are designed to be fair and considerate of the future circumstances of those who take this loan, requiring repayment only two years after they have completed the National Youth Service Corp and secure employment or have started a business.
“In order word, repayment is not required until at least two years after NYSC, and only if the individuals have a paid job. If you do not have a paid job, you don’t need to pay’’, he said.
While emphasizing the importance of education to nation building, the NELFUND MD/CEO also commended the IDPIL for its investment in the youths and future of Ikorodu, through educational supports.
“As the Ikorodu Peace Initiative focuses on empowering our youths through education, we, at NELFUND, also recognize the critical roles this plays in enforcing peace and stability in our communities.
“Education opens doors to opportunities; it reduces inequalities and equip individuals to see the need to contribute positively to the society. It is through education that we can address the root causes of conflicts such as poverty, unemployment and lack of opportunity and replace them with hope, dignity and economic empowerment.
“The Ikorodu Division Peace Initiative is a powerful example of what can be achieved when a community invests in its youths.
“By providing education opportunities, it will not only uplift individuals but will strengthen the fabric of our society, ensuring that peace is not just maintained, but deepened and expanded.
He charged stakeholders to support youth’s educational development for the benefit of the country’s development.
“Today, I urge all stakeholders, community leaders, government officials, private sector partners and parents, to join us in this mission. Let us continue to support our youths in their education pursuit, knowing that every naira invested in their education is a naira invested in the future of Nigeria.
“Let us continue to work together to create an environment where peace can thrive; where education is accessible to all and where every young Nigerian person has the opportunity to reach his or her full potential.”, he said.
Mr Sawyerr also acknowledged the IDPIL vocational initiative and pledged NELFUND’s support.
“Before I conclude, I just want to refer to the comments made by Odofin (Adewunmi Ogunsanya) about the vocational center. I have talked about academics, but we are also empowered as fund to support those who want to acquire vocational skills; who want to do vocational centres or study, and I notice that Odofin talked about a centre for eight hundred and fifty people.
“I need to let you know that is not a static 850, it is 850 passing through continuous. In a number of years, we would have 8500 people that might have come through and at another time, it would be 8million people that have passed through the centre.
“It’s a massive initiative, and I congratulate you for this. I tell you, NELFUND will support this initiative. We are very well funded.
“In 95 days, we have committed N76billion naira to supporting students. We received another N50 billion three days ago.
“The reason I am mentioning this numbers is because I need you to know that there is a lot of political will behind this. We are disbursing funds. It is not a pipe dream.
“This is real and I need you to encourage your youths to apply. It is not a scam. It is not a mirage. It is real. We are putting real money behind this”, he said.
