President Bola Tinubu has appointed renowned banker and businessman, Mr. Jim Ovia, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).
The appointment, aimed at bolstering the country’s education sector, was disclosed in a statement released by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, on Friday.
Ngelale noted the President’s confidence in Mr. Ovia’s ability to leverage his extensive experience and professional acumen to advance the critical vision of ensuring that no Nigerian student faces a premature end to their pursuit of higher education due to financial constraints.
According to the statement, Mr. Ovia, a distinguished alumnus of Harvard Business School and the University of Louisiana, is recognized for his significant contributions towards nurturing and empowering young Nigerians.
“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.
In a related development, President Tinubu recently signed the National Students Loan Amendment bill into law on April 3.
The amended bill, which complements the initial student loan legislation signed in June 2023, seeks to provide financial assistance to Nigerian students in tertiary institutions.
The implementation of the student loan programme, though initially delayed due to various challenges, is poised to revolutionize access to education in Nigeria.
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.”
