Minister of State for Youth Development In Nigeria, Ayodele Olawande, announced that the Student Loan Scheme is designed to provide youths with access to interest-free financial support, aligning with President Bola Tinubu’s Renewed Hope Agenda. Olawande emphasized that the initiative aims to prevent undergraduates from dropping out due to financial constraints.
Speaking to the News Agency of Nigeria (NAN) in Abuja, Olawande stated, “If the President said a child will not drop out of school because he or she is not able to pay school fees, I think that is a big plus.” He called for creating an enabling environment for young Nigerians to thrive and reach their goals, noting that over 60% of the country’s population consists of young people.
The minister highlighted the scheme’s ease of access, mentioning that students could apply for the loan through the portal at https://nelf.gov.ng without needing personal connections. “You don’t need to know anybody; just go and apply. They will put it together, send it to the school and it will be sorted out so that one can study properly and pass the examination,” Olawande explained.
He also pointed out the importance of technical and vocational education, stating that not all educational paths need to be through universities or polytechnics. “China, India, United States, and others are successful because of the skills their citizens have,” Olawande said, emphasizing the need for skilled technicians in addition to traditional graduates.
The Student Loan Scheme, a component of the Higher Education Access Act, aims to support students in public tertiary and technical institutions. This Act was initially signed by the President a year ago and was recently overhauled and re-assented to in February.
Olawande reaffirmed the government’s commitment to youth development, noting that young people play a crucial role in every ministry and corporation, influencing many of the government’s decisions.
