President Bola Tinubu has appointed Mr. Jim Ovia, a renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This decision reflects a commitment to bolstering higher education accessibility and skill development for Nigerian students and youths.
Ovia, the founder of one of Nigeria’s leading banks, brings a wealth of experience and expertise to his new role. A Harvard Business School alumnus, Ovia’s appointment stresses the government’s dedication to empowering young Nigerians.
“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,” stated Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity).
The Nigerian Education Loan Fund plays a crucial role in implementing this initiative, requiring individuals of the highest professional caliber to oversee its operations effectively. President Tinubu expressed confidence in Ovia’s ability to lead the Fund toward achieving its objectives.
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Furthermore, Ngelale stated that: “The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professionals like Ovie to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
In his new capacity, Ovia is expected to leverage his vast experience and professional standing to advance the vision of ensuring no Nigerian student faces financial barriers to higher education. Additionally, the aim is to equip Nigerian youths with the necessary skills to contribute meaningfully to society and the global knowledge-based economy.
The appointment of Ovia emphasizes the government’s commitment to fostering a conducive environment for education and skill development. Tapping into the expertise of individuals like Ovia can help the administration of President BTinubu to address some of the challenges hindering access to higher education in the country
As Nigeria seeks to position itself as a knowledge-based economy, initiatives such as the Nigerian Education Loan Fund play a critical role in equipping its youth with the tools necessary for success. Ovia’s appointment signals a renewed commitment to this objective and emphasizes the government’s proactive approach to addressing educational challenges.