Tinubu Marks Nigeria @65 with Massive Student Loan Disbursement

Tinubu Marks Nigeria @ 65 with Massive Student Loan Disbursement

 

 

President Bola Ahmed Tinubu on Wednesday reaffirmed his administration’s commitment to empowering Nigerian youths and deepening economic reforms as the nation celebrated its 65th Independence Anniversary.

 

In a nationwide broadcast from the Presidential Villa, Abuja, Tinubu described young Nigerians as the country’s “greatest assets,” urging them to innovate and excel in science, technology, sports, arts, and the creative sector.

 

Highlighting key initiatives for education and youth development, the President revealed that the Nigerian Education Loan Fund (NELFUND) has disbursed N99.5 billion in student loans and N44.7 billion in upkeep allowances to about 510,000 students across 228 higher institutions nationwide.

 

“Our administration, through policies and funding, will continue to give you wings to fly sky-high,” Tinubu said. “Approximately 510,000 students across 36 states and the FCT have benefited from NELFUND, covering 228 higher institutions.”

 

He also highlighted other youth-focused programmes. The Credicorp scheme has granted N30 billion in affordable loans to 153,000 Nigerians for vehicles, solar energy, home upgrades, and digital devices. Meanwhile, the YouthCred programme, launched in June, offers consumer credit to National Youth Service Corps (NYSC) members to aid their resettlement.

 

Tinubu further noted that the Investment in Digital and Creative Enterprises (iDICE) programme, implemented in partnership with the Bank of Industry, African Development Bank, French Development Agency, and Islamic Development Bank, is near full implementation to support the technology and creative sectors.

 

Acknowledging current economic challenges, Tinubu admitted that ongoing reforms had caused temporary pains, including inflation and high living costs. “The alternative of allowing our country to descend into economic chaos or bankruptcy was not an option. Sacrifices made were laying a new foundation cast in concrete, not on quicksand,” he said.

 

The President urged state and local governments to complement federal efforts by boosting productivity, innovation, and enterprise. “Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first,” he declared.

 

Tinubu assured citizens that a new, prosperous, and self-reliant Nigeria is within reach, calling on all Nigerians to actively support nation-building initiatives.