PRESIDENT Bola Tinubu has appointed Jim Ovia, a well-known banker and businessman, as Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, announced the appointment in a statement today.
Ngelale stated that the President believes Ovia will bring his vast expertise and professional prestige to this post, advancing the all-important aim of ensuring that no Nigerian student be forced to abandon their pursuit of higher education due to a lack of funds
According to the Special Adviser, Ovia would be responsible for ensuring that all Nigerian youths, regardless of ethnicity, have access to higher education and skills that will enable them to be productive members of society and key contributors to this century’s knowledge-based global economy.
“Mr. Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.
“The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
“The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage,” the statement read in part.
Student loan Act
President Tinubu on April 3, signed the National Student Loan Amendment Bill into law.
The modified measure was signed after he first signed the student loan bill into law in June 2023 to provide financial help to Nigerian students attending educational institutions.
Following the bill’s signing, its implementation was delayed due to a number of challenges that hampered its roll out.
Speaking after he signed the amended bill, the president said, “ First of all, I must thank members of the National Assembly for their expeditious handling of this bill considering the children of Nigeria, that education is the tool to fight against poverty effectively.”
“We are determined to ensure that education is given the proper attention necessary for the country including skills development programmes. This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.”
“We are here because we are all educated and were helped. In the past, we have seen a lot of our children drop out of college and give up the opportunity. That is no more, the standard and the control is there for you to apply no matter who you are as long as you are a Nigerian citizen.”
