President Bola Tinubu on Tuesday received Jim Ovia, founder of Zenith Bank and chairman of the Nigerian Education Loan Fund (NELFUND), at the Presidential Villa in Abuja, amid the growing impact of the administration’s student loan initiative.
Ovia was observed arriving at the State House at about 2:15 p.m., dressed in his signature black suit and red tie. The purpose of the meeting was not immediately disclosed as of the time of filing this report.
Jim Ovia’s role in the PBAT administration’s education reforms has been central to efforts to make tertiary education more accessible to Nigerians, particularly students from families struggling to meet the rising cost of schooling.
Appointed chairman of the NELFUND board on April 26, 2024, shortly after Tinubu signed the student loan legislation into law, Ovia brought his extensive experience in banking, institution-building and philanthropy to the implementation of the scheme.
The initiative provides interest-free loans to eligible students in public tertiary institutions, covering approved institutional fees and upkeep allowances.
Under the programme, NELFUND had disbursed ₦355.87 billion as of September 3, 2026, according to the fund’s reported figures, with 1,659,853 applications processed.
The disbursements included ₦192.89 billion paid to 319 beneficiary institutions for students’ fees and ₦162.98 billion provided as upkeep allowances.
These figures underscore the scale of the Federal Government’s intervention and the role of the fund’s leadership in translating Tinubu’s education policy into practical support for students and their families.
Beyond his NELFUND responsibilities, Ovia has a longstanding record of supporting education through the Jim Ovia Foundation’s scholarship initiatives and his establishment of James Hope University in Lagos.
His experience in the private sector and commitment to education have added to his profile as a key figure in the administration’s drive to expand educational opportunities and develop Nigeria’s human capital.
While the purpose of Tuesday’s meeting was not made public, Ovia’s continuing involvement in NELFUND places him at the centre of one of the Tinubu administration’s major social interventions.