Education |

September 17, 2024

September 17, 2024September 17, 2024 IFMNEWS

Lagos Defends Boarding Fee Increase for Student Welfare

The Lagos State Government has stated that the increase in boarding fees at its model colleges is necessary to improve student welfare. This announcement was made on Monday through a statement from the state's Ministry of Basic and Secondary Education, signed by the Deputy Director of Public Affairs, Mr. Ganiu Lawal.

Lawal explained that students in boarding schools make up only a small percentage of the overall public-school population in Lagos, and the N35,000 boarding fee that has been in place since 2021 is no longer viable in 2024. The Lagos State Government, as reported by the News Agency of Nigeria, has approved a new boarding fee of N100,000, effective from the 2024/2025 academic session, starting on September 15, 2024.

Addressing concerns from some parents, Lawal emphasized that the fee increase was unavoidable but necessary to prioritize the welfare of students. He also pointed out that enrolling a child in boarding school is a personal choice, and the fees cover essential costs like feeding, janitorial services, and other hostel-related expenses.

Lawal further explained that the schools cover energy costs, including fuel and cooking gas, which are necessary for preparing meals for the students. Despite the increase, he noted that the Lagos State Government still provides free education, including infrastructure, technology support, and WAEC exam fees, for all public-school students.

He added that feeding students for three months on the previous N35,000 was unrealistic and pointed to a comparative analysis of boarding schools across the country, showing that Lagos State's new rate is still relatively reasonable. The government is committed to providing nutritious food for both physical growth and mental sharpness, ensuring students' well-being while in school.

Lawal called on parents to understand the need for the increase and cooperate with the government for the benefit of their children. He reminded them that Lagos State provides free education across 1,021 primary schools, 369 junior secondary schools, and 329 senior secondary schools, including 32 model colleges, most of which are boarding schools.

Despite the protests from some parents who called the fee hike "outrageous," Lawal reiterated that the government's decision was in the best interest of the students.

July 31, 2024

July 31, 2024July 31, 2024 IFMNEWS

Minister Announces ₦850m Loan for Nigerian Students Today

The Nigerian Educational Loan Fund (NELFUND) announced that it will disburse ₦850 million to institutions for fees today (Wednesday). This was disclosed by the Managing Director of the Fund, Akintunde Sawyer, during a press briefing in Abuja.

Akintunde stated, "The sum of ₦850 million will be leaving the account of NELFUND today to institutions. This is in addition to the ₦1.7 billion that has already been disbursed."

Earlier, Sawyer had revealed that the Fund had disbursed institutional fees to 20,000 students through their respective institutions. He also noted that a total of 260,000 loans, including institutional fees and upkeep, have been approved.

Approximately 1.2 million students are expected to benefit from this key initiative of President Bola Tinubu’s administration. It is worth recalling that President Tinubu approved ₦35 billion for the scheme's launch after signing the supporting legislation on April 3.

Within these institutions, 11,083 students who applied for the loans had their tuition fully paid. This financial aid is intended to enable students to focus on their studies without the burden of financial worries. By investing in these students, we are investing in the future of Nigeria.

ADDRESS BY MR AKINTUNDE SAWYERR, MANAGING DIRECTOR/CEO OF THE NIGERIAN EDUCATION LOAN FUND (NELFUND) ON WEDNESDAY, 31st JULY, 2024.

It is with immense pleasure and a deep sense of responsibility that I stand before you today to announce a significant milestone in our collective efforts to enhance the educational landscape of our great nation.

This occasion marks a testament to our shared commitment to ensuring that higher education is accessible to all deserving Nigerians, regardless of their financial background.

Firstly, I would like to acknowledge the presence of the Honourable Minister of State for Education, Dr Yusuf Sununu who is with us today on a one-day working visit.

Your presence, Honourable Minister, underscores the importance of this initiative and highlights the government’s unwavering support for the advancement of education in Nigeria. We are honored to have you here and grateful for your continuous advocacy and leadership in the educational sector.

I must also extend our Excellency, President Bola Ahmed Tinubu (GCFR). His visionary leadership and unwavering dedication to the advancement of education in Nigeria have driving forces behind this initiative.

Under his administration, we have seen a renewed focus on the empowerment of our youth through education, and today’s announcement is a direct result of his commitment to this cause.

Mr. President, your steadfast support and belief in the potential of Nigerian students have made this possible, and we are deeply grateful.

I am delighted to share that following Mr President’s directive, NELFUND has been able to disburse students’ institutional fees amounting to N1,172,388,340.00 for 20,000 students (100% paid) in esteemed institutions across the country.

These institutions were carefully selected based on their academic calendar. Disbursement to other institutions will be made at the beginning of their sessions to ensure a transparent and equitable distribution of resources.

July 18, 2024

July 18, 2024July 18, 2024 IFMNEWS

NELFUND Boss: Students to Receive Payments Next Week for New Academic Session

Students of tertiary institutions who have successfully applied for the Federal Government’s loan scheme and are beginning new academic sessions will start receiving credit alerts from next week, according to NELFUND Managing Director Akintunde Sawyerr.

Speaking on a monitored programme on Wednesday, Sawyerr stated, “The people who are going to first receive alerts as early as next week are the people who are about to start a new session in the institution, they are in.”

Sawyerr revealed that out of 170,000 applicants from universities, polytechnics, and colleges of education, 110,000 have completed the application process and have accounts with NELFUND.

He explained that there are two types of beneficiaries: the institutions, which will receive payments on behalf of those who have successfully applied, and the students, who will receive a monthly stipend.

“A formal launch of the disbursement circle played out at the State House on Wednesday,” he said, emphasizing that the program aims to provide Nigeria with better leadership in the future and improve the socio-economic situation of the country.

“To be precise, about 110,000 students have successfully applied. They’ve submitted their applications and been verified as bona fide and eligible applicants. But we’ll still carry out further verification to make sure they are well-qualified to receive these loans. But over 110,000 are likely to begin to receive disbursement from next week,” he added.

“It’s one thing to get approval for the loan; it’s another thing to begin to receive value. This loan is for those who are going to be starting institutions afresh or those who are already there.”

Sawyerr noted that applicants must have Joint Admissions and Matriculation Board (JAMB) numbers, matriculation numbers, Bank Verification Numbers (BVN), and National Identification Numbers (NIN), among other requirements.

“Current exposure to students is about N35bn. We’ve got much more than that sitting in our accounts that we can disburse, and we’ve also got some funding on the way. Remember, we are getting 1% of Federal Inland Revenue Service taxes, and we also can receive funding from other sources,” he explained.

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