The Nigeria Education Loan Fund announced on Friday that it has reached a significant milestone in its first year of operation, with “ over 500,000 Nigerian students who have now applied for student loans through the NELFUND portal.”

According to a statement by its director of Corporate Communications, Oseyemi Oluwatuyi, this milestone, achieved in just 11 months of operation, emphasizes the critical need for accessible student financing in Nigeria and highlights the widespread trust in NELFUND’s mission to democratize access to tertiary education.

“This is more than just a number; it’s a signal of hope for families across Nigeria. We are witnessing a nationwide demand for opportunity, and NELFUND is proud to be at the heart of this transformation,” Managing Director/CEO of NELFUND, Mr. Akintunde said in the statement.

Since the launch of the portal, students across the country have actively engaged with the application process for both institutional and upkeep loans, demonstrating the relevance and urgency of the Fund’s efforts.

NELFUND said it remains committed to ensuring transparency, accessibility, and efficiency as the process continues, and calls on all stakeholders to join in supporting the vision of equitable education for all.

Aliko Dangote, the President and Chief Executive of the Dangote Group, has expressed his appreciation for his appointment to the World Bank’s Private Sector Investment Lab, a body focused on boosting investment and creating jobs in emerging economies.

In a statement confirming his acceptance, Dangote reaffirmed his dedication to promoting sustainable economic growth through investments led by the private sector, highlighting the transformative potential of such initiatives in developing markets.

He stated that he is both honored and excited to accept his appointment to the World Bank’s Private Sector Investment Lab, which is dedicated to advancing investment and employment in emerging economies.

Dangote added that this opportunity aligns with his long-standing commitment to sustainable development and unlocking the potential of developing economies, noting his eagerness to collaborate with other leaders to replicate the successes of the Asian Tigers in other regions, drawing inspiration from their strategic investment and focused economic policies.

In 2023, the Private Sector Investment Lab was co-chaired by the Prime Minister of Canada, Mark Carney, and focused on attracting £1 trillion in sustainable investment to support the energy transition in emerging markets.

The World Bank announced Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which is now entering a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

Joining Dangote in this group are the CEO of Bayer AG, Bill Anderson; the Chair of Bharti Enterprises, Sunil Bharti Mittal; and the President and CEO of Hyatt Hotels Corporation, Mark Hoplamazian.

The World Bank stated that the expanded membership brings together business leaders with proven records in generating employment in developing economies, supporting the Bank’s increased focus on job creation as a central element of global development.

According to World Bank Group President Ajay Banga, this expanded membership allows them to integrate this work across their operations and directly link it to the jobs agenda driving their strategy, emphasizing that this is not just about altruism but about helping the private sector see profitable investment paths that will uplift both people and economies, which is central to their mandate.

The global bank noted that over the past 18 months, the Lab has convened leaders from global financial institutions to identify the most critical obstacles to private sector investment in developing countries and to test practical solutions.

The statement indicated that this work has now been consolidated into five key priority areas that are being integrated across the bank’s operations, including regulatory and policy certainty.

The statement provided to their correspondent highlighted that the Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and among the largest on the African continent.

The statement further noted that with interests in cement, fertilizer, salt, sugar, and oil, the Group employs over 30,000 people and is the largest taxpayer in Nigeria, contributing more in taxes than all of Nigeria’s banks combined, also being the country’s largest employer after the government.

The statement also mentioned the $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, as the largest single private investment in Africa.

In addition to his business interests, the statement pointed out that Dangote leads the Aliko Dangote Foundation, the largest private foundation in sub-Saharan Africa with the largest endowment from a single African donor, primarily focusing on child nutrition while also supporting interventions in health, education, empowerment, and disaster relief.

The strike initiated by workers at the Nigerian Meteorological Agency (NiMet) has been called off due to the Federal Government’s intervention.

This industrial action, which caused disruptions to flight operations throughout the country on Thursday, was a result of concerns about inadequate working conditions.

However, following a meeting in Abuja with Festus Keyamo, the Minister of Aviation and Aerospace Development, the unions representing the workers agreed to end the strike.

On Wednesday, the employees of the Nigerian Meteorological Agency (NiMet) began an indefinite nationwide strike to protest unresolved issues related to their welfare.

Some of the main grievances included NiMet’s alleged refusal to negotiate or implement agreed financial allowances and outstanding entitlements, as well as matters concerning wage awards, special allowances, and unpaid amounts related to the 2019 minimum wage.

The workers also accused the agency’s management of withholding important documents, ignoring repeated requests to include overlooked staff in previous payments, and prioritizing executive retreats over essential training programs for staff.

As a direct consequence of the strike, Air Peace announced a suspension of all its flight operations across Nigeria.

In a statement issued on Wednesday, the airline cited the lack of QNH reports—essential weather information required for safe landings—as a key reason for halting its services.