President Bola Ahmed Tinubu has charged the administration of the Nigeria Training Mortgage Fund (NELFUND) to develop its scope by offering interest-free loans to Nigerian college students keen on expertise growth programmes.
Tinubu issued the directive on the State Home on Monday following a briefing by Akintunde Sawyerr, Government Secretary of NELFUND, on the run-up to the launch of this system later this month.
The President mentioned it can be crucial that this system caters to those that might not want to pursue college training, noting that buying expertise is as necessary as acquiring tutorial {qualifications}.
“This isn’t an unique program. It focuses on all our younger individuals. Younger Nigerians are gifted in a number of areas. This isn’t simply for individuals who wish to develop into docs, attorneys and accountants. Additionally it is for individuals who aspire to make use of their expert and skilled fingers to construct our nation. In keeping with this, I’ve directed NELFUND to discover all choices to implement expertise growth packages as a result of not everybody desires to pursue a full college training,” Tinubu mentioned.
He additionally emphasised the necessity for fairness and inclusivity within the administration of this system, stating: “Irrespective of how economically challenged you’re, accredited and certified college students will and may have entry to this mortgage to additional their training at increased establishments. There isn’t any compromise in our dedication to the underprivileged residents of this nation.”
Sawyerr mentioned in his presentation to the president that the mortgage utility course of will probably be technology-driven, limiting the human interface and “eliminating any chance of mismanagement in this system.”
“By design, this can be a perpetual program and it’ll not finish. The cash, meant for bona fide Nigerian college students, will probably be paid on to the establishments through digital switch within the preliminary section. Our college students will probably be cared for in a fashion that circumvents human intervention by making full use of obtainable technological platforms, according to Your Excellency's targets.”
He additionally mentioned that NELFUND has developed a sturdy threat mitigation mechanism to handle potential dangers that will come up from the programme.
Talking on the financing mechanism of the programme, Zacch Adedeji, Government Chairman, Federal Inland Income Service (FIRS), mentioned funding sources have been made accessible to make sure the sleek take-off and upkeep of the programme.
“Mr. The President completely solves the issue of financing training in Nigeria. Underneath the orders of the President, the Training Tax Fund is being reviewed to moreover meet the wants of our college college students in all native authorities areas of the nation as they search entry to vocational and conventional college training. Funding for this system will probably be adequately lined,” he mentioned.
