After many weeks of suspense, the eagerly anticipated Students’ loan of the Bola Tinubu-led administration which seeks to offer educational loans to students and skilled workers will open its portal next Friday, May 24.

A spokesperson of the Nigerian Education Loan Fund (NELFUND), Nasir Ayitogo, in a statement, urged students to access the portal on www.nelf.gov.ng to begin application.

According to Ayitogo, the portal provides a user-friendly interface for students to submit their loan applications conveniently.

“The management of Nigerian Education Loan Fund (NELFUND) led by its Managing Director, Mr Akintunde Sawyerr are thrilled to announce 24th of May, 2024 as official date for the opening of portal for student loan applications,” Ayitogo said.

“This marks a significant milestone in the commitment of President Bola Ahmed Tinubu (GCFR) to fostering accessible and inclusive education for all Nigerian students.

“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.

“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.”

Managing Director of the Fund, Dr Akintinde Sawyerr, has earlier revealed that about 1.2 million Nigerian students in tertiary institutions and government-recognised skill acquisition centres are expected to be among the first batch of beneficiaries.

President Bola Tinubu last month signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law, with a promise that no student would be denied the opportunity to build his future regardless of background.

The Act empowers the Nigeria Education Loan Fund (NELFUND) to provide loans to qualified Nigerian students for tuition, fees, charges and upkeep during their studies in approved public tertiary institutions and vocational and skills acquisition establishments in the country.

The new law which repeals the Student Loan Act, 2023, removes the family income threshold so Nigerian students can apply for these loans and accept responsibility for repayment according to the Fund’s guidelines.