Temitope Mustapha, Abuja
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to empowering Nigerian youths, describing them as the nation’s greatest assets and the future of its prosperity.
Addressing citizens in his October 1st nationwide broadcast commemorating Nigeria’s 65th Independence Anniversary, President Tinubu on Wednesday said that the Nigerian Education Loan Fund (NELFUND) has already disbursed ₦99.5 billion in loans to approximately 510,000 students across 228 higher institutions in the 36 states and the Federal Capital Territory.
He added that upkeep allowances under the scheme have reached ₦44.7 billion as of September 10.
While assuring Nigerian youths that his administration would continue to provide policies and funding that would give them “wings to fly sky-high,” President Tinubu urged them to continue dreaming big, innovating, and breaking new ground in science, technology, sports, arts, and the creative industries.
“The youths, I have a message for our young people. You are the future and the greatest assets of this blessed country. You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector. Our administration, through policies and funding, will continue to give you wings to fly sky-high.
“We created NELFUND to support students with loans for their educational pursuits. Approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion,” the President added.
Credicorp
The President also highlighted Credicorp, another flagship initiative of his administration, noting that the scheme has so far extended ₦30 billion in affordable loans to 153,000 Nigerians for vehicles, solar energy solutions, home improvements, digital devices, and other essential needs.
“YouthCred, which I promised last June, is a reality, with tens of thousands of NYSC members now active beneficiaries of consumer credit for resettlement.
“Under our Renewed Hope Agenda, we promised to build a Nigeria where every young person, regardless of background, has an equitable opportunity to access a better future—thus, the Investment in Digital and Creative Enterprises (iDICE) programme. The Bank of Industry is driving the programme, in collaboration with the African Development Bank, the French Development Agency, and the Islamic Development Bank.
” This initiative is at the cusp of implementation. Over the last two years, we have collaborated with our partners to launch the programme, supporting our young builders and dreamers in the technology and creative sectors.” President Tinubu added.
Hauwa Abu