The Federal Government says the student loan scheme would be rolled out in phases, beginning with the federal institutions.

The Managing Director, Nigerian Education Loan Fund, Akintunde Swayerr, who made this disclosure in an interview newsmen on Friday, said the student loan application portal will be opened on the 24th of May for loan applications.

He further said the government is currently “in the midst of a sensitization campaign to inform Nigerians how the scheme will work.”

Swayerr explained that the loan scheme seeks to bridge the financing gap for students in Nigeria, enabling them to become more resourceful, and eventually aiding the country.

“On the 3rd of April 2024, President Bola Ahmed Tinubu signed into law a monumental act that seeks to bridge the financing gap for applicants who want to get a higher education that is tertiary level.

“…and who wants to get vocational training to get proper qualifications that enables them to be more marketable and useful to the Nigerian society.

“The fund covers 100 percent of all the fees of tertiary institutions. There’s also upkeep for the student,” he said.

Swayerr noted that this plan will be rolled out in schemes, the first being the public institutions because of the large number of students in that sector requiring financial aid.

“We’re going to roll this plan out in phases. The first phase will be with federal institutions then to others. It’s going to be the public sector at the beginning because that’s where we find the bulk of students who perhaps need the financing cover and are most vulnerable.

“We have a system that hopefully makes this have a national spread and some degree of equal opportunities for those who have the desire, capacity, eligibility to engage in this scheme,” he said.

Oyo State Government is set to recruit 7,000 teachers for public primary schools across the state.

The state government also revealed plans to recruit 100 caregivers for special schools across the state.

This was disclosed by the executive chairman of Oyo State Universal Basic Education Board, Nureni Adeniran, during a press conference held at the Board Room on Friday.

He added that for the 7,000 fresh teachers to be engaged by the government, at least 75 per cent deficit of the gap will be plugged.

Adeniran said, “For so many months or years back, there has been a clamour for recruitment of teachers into public primary school, and as an agency, under whose purview we have these primary schools, a lot of requests, a lot of questions have been asked of us, and we have been saying, we are going to do it.

“Ahead of the last general election, a lot of questions were asked about this recruitment, and His Excellency, the governor of Oyo State, Engr. Seyi Makinde did promise that we are indeed going to recruit.

“So it is my pleasure to announce to the world that His Excellency Engr. Seyi Makinde, in fulfilment of his electoral promise, and response to the yearnings of the good people of Oyo State, occasioned by the dearth of teachers in our public primary schools, has graciously approved the recruitment of 7,000 teachers in our public primary schools.

Adeniran said efforts were ongoing to recruit the teachers in fulfilment of the state governor, Seyi Makinde’s promise to bridge the teachers’ deficit in the system.

“In addition, he also approved the recruitment of 100 caregivers in our special schools in the state. This recruitment, the process of which will commence very soon, needs to be brought into the hearing of the good people of Oyo State, especially the intending applicants, and this press conference becomes imperative because of various information that has dominated the media space in the last couple of months, or even years, wherein some scammers would go online and say, Oyo SUBEB is recruiting.

“I can say that we have denied that several times, over and over and over again, and your guess is as good as mine. Those who could do that, even when the approval has not been given, now knowing that the approval has been given, want to utilize the opportunity to scam the unsuspecting members of the public who are intending applicants for this particular exercise.

“So, I am coming out on behalf of the Oyo State Universal Basic Education Board to say that the approval has been given and we are already commencing the preliminary work on the stages of this recruitment exercise, which will also be made public at the appropriate time.”

He, however, warned the public against scammers, saying the government has not appointed any agent or agency to carry out the recruitment process but will make information available to the members of the public as soon as the recruitment begins.

“The essence of this press conference is to warn the unsuspecting intending applicants to be wary of scammers and to let them know that in the process of this recruitment exercise, the details of which will be brought out later, Oyo State government and Oyo SUBEB is not appointing anybody to serve as agents in this recruitment exercise.”

He added that applicants will be selected based on qualifications.

“Therefore, whatever the stages that will be followed to get this exercise conducted in a free, fair, and credible manner, will be emanating from this office under the signature of the Executive Chairman of the Oyo State Universal Basic Education Board.

“We also want to let the people know that if there is anything, even after we might have brought out the template on the stages or the procedures to be followed if there is anything or information required, people should not hesitate to come into the SUBEB headquarters to come and find out by themselves, and not rely on a second-hand or already midwife information that may not be true.

“I also want to say that no person has been empowered to collect a dime from anybody on account of this recruitment exercise. No person, whether staff or non-staff members, has been empowered to collect a dime from anybody on account of this recruitment. We want to use this opportunity to thank His Excellency, Engr. Seyi Makinde for living up to his words as he promised that this recruitment would be done, and he has thus fulfilled that particular promise.

He noted that the public would be notified of the application term, saying, “I want to say that at the next stage of the recruitment, we’ll let the world know how we want to go about it in terms of how the intending applicant will be able to put in their application, what the requirements needed, and where and when to do what would be made available at the appropriate time.

“But I want to say that every information regarding this particular recruitment exercise will be from us, the Head of Service as well as the Civil Service Commission. So these are the agencies and the MDAs that we will be working together to ensure a seamless process.”

…Joins forces with crust microfinance bank to provide financial inclusion access

ThriveAgric, a leading agricultural technology company, today hosted a project showcase event to celebrate the achievements and future plans of its AYuTe (Agriculture, Youth and Technology) Project. The initiative, launched in collaboration with Heifer International and supported by Crust Microfinance Bank, is empowering 125,000 smallholder farmers with financial inclusion services, creating job opportunities for over 1,000 youths across eight northern Nigerian states including Adamawa, Gombe, Yobe, Jigawa, Kaduna, Kano, Katsina, and Bauchi.

The event, themed “Enabling Financial Inclusion for Smallholder Farmers,” brought together key stakeholders, partners, project beneficiaries, and community members to celebrate the achievements of the AYuTe Project and outline the roadmap for future progress.

The AYuTe Project directly addresses the challenge of financial exclusion faced by many smallholder farmers in Nigeria. By facilitating bank account opening, distributing debit cards, and establishing POS operators in rural communities, ThriveAgric, alongside Crust MFB, is increasing access to formal financial services for these underserved populations. This financial inclusion is a key driver for
improved access to finance, credit, and digital services, ultimately promoting increased productivity and economic empowerment for farmers.

While delivering the keynote address, the Managing Director, Crust MFB, a leading microfinance bank, Stephen Kanabe, emphasized the importance of community, gender inclusion, and agency banking in driving financial inclusion across Nigeria. “We are delighted to support ThriveAgric’s AYuTe Project and contribute financially to these underserved communities,” said Mr. Kanabe.

Commenting on the initiative, the Communications Manager, Heifer International, Chuba Ezeigwe says, “Inadequate access to financial services is a significant barrier for smallholder farmers. We are excited to invest in ThriveAgric’s solutions and contribute to scaling up an agritech innovation that confronts financial inclusion challenges faced by these farmers.”

The event featured presentations, panel discussions, and testimonials from project beneficiaries, including smallholder farmers, Business Service Agents (BSAs), and a Relationship Officer. So far, over 40,000 smallholder farmers now have bank accounts and debit cards and co-operative groups have also been set up through which input financing would be provided to enable further additionality for beneficiaries.

The AYuTe Project represents a significant step forward in ThriveAgric’s mission to build the largest network of profitable farmers in Africa and ensure food security on the continent. The project showcase highlighted the company’s unwavering commitment to empowering smallholder farmers and their communities through financial inclusion and technological innovation.

For additional information or interview requests with a ThriveAgric spokesperson, please contact us via [email protected].

About ThriveAgric:

ThriveAgric is a fast-growing agricultural technology company passionate about ensuring food security. They empower smallholder farmers, leveraging their technology to access finance, and improve productivity & sales to promote food security. ThriveAgric has 450+ warehouses and works with over 500,000 smallholder farmers in Nigeria, Ghana and Kenya. ThriveAgric’s Theory of Change target for 2027 is to provide $500 million in credit to 10 million smallholder farmers and to double the numbers by 2050.

About Heifer International:

Heifer International is on a mission to end hunger and poverty in a sustainable way by supporting and investing alongside local farmers and their communities. They work to end hunger and poverty in partnership with the communities they serve. By supporting and training the world’s farmers, ranchers, and female business owners, they are investing in a new breed of success.

About Crust MFB:

Crust Microfinance Bank (MFB) is focused on purposeful banking. Banking geared towards closing the financial, digital and gender equality gap within communities and between people of different social classes while inviting the public to participate in our purpose. Crust’s message is simple, when your bank with Crust, you are achieving your highest purpose, transforming lives, leaving the world
better than you met it.