NIMC highlights success of student loan, importance of digital infrastructure

Engineer Abisoye Coker-Odusote, Director-General and Chief Executive Officer of the Nigeria Identity Management Commission (NIMC), announced significant milestones in the federal government’s Student Loan Initiative during a press briefing in Abuja on Monday.

The announcement was part of the National Day of Identity observances, themed “Digital Public Infrastructure – Enabling Access to Services in Nigeria.”

Speaking to commemorate September 16, a day dedicated to emphasizing the significance of identity and its role in promoting inclusion, protection, and empowerment, Coker-Odusote detailed the program’s achievements.

She revealed that 332,715 students have been registered for loans under the initiative, with over 18,000 students already receiving payments.

Coker-Odusote highlighted the alignment of this initiative with broader federal investments in social and palliative programs designed to mitigate the effects of ongoing economic reforms on vulnerable populations.

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She stressed that the focus on developing a robust Digital Public Infrastructure (DPI) is both timely and crucial for supporting these government efforts.

The Director-General elaborated on the concept of DPI, explaining it as a digital network typically established within the public sector to facilitate secure and efficient delivery of economic opportunities and social services.

DPI plays a pivotal role in enhancing financial inclusion and transforming citizens’ lives by overcoming barriers related to physical distance, documentation requirements, and transaction costs.

Underlining the role of NIMC in this context, Coker-Odusote noted that the commission, which oversees the issuance of National Identification Numbers (NIN), has enrolled over 110 million Nigerians.

She emphasized that the Student Loan Initiative is a prime example of how DPI can help remove financial obstacles to education, demonstrating the potential for digital infrastructure to drive substantial social impact.

In collaboration with 257 educational institutions, the initiative has made substantial progress, with 332,715 students registered for loans and 18,000 already benefiting from the payments.

This development underscores the effectiveness of DPI in facilitating access to crucial services and opportunities for Nigeria’s student population.