Abuja: The National Assembly and Nigerian Education Loan Fund (NELFUND) have intensified their efforts to expand the student loan scheme, with plans to increase the number of direct beneficiaries from 1.6 million to at least seven million.
According to News Agency of Nigeria, this initiative was disclosed by Mr. Akintunde Sawyerr, Managing Director and Chief Executive Officer of NELFUND, during a National Sensitisation Programme on the Student Loan Scheme organized by the Senate Committee on Tertiary Institutions/TETFund.
Sawyerr positioned the student loan initiative as a notable achievement of President Bola Tinubu’s administration, highlighting that 1.6 million Nigerian students have directly benefited from NELFUND’s interventions. He noted that the disbursed funds have spurred economic activities surrounding tertiary institutions, thereby generating a broader positive impact on communities.
However, Sawyerr emphasized that the current number of beneficiaries is insufficient to achieve the desired national transformation. He stated, “While 1.6 million beneficiaries represent a significant achievement, it is not enough to transform Nigeria. We need, at least, seven million Nigerians benefiting from this programme.” He further mentioned the potential expansion into skills acquisition and Technical and Vocational Education and Training (TVET), which could ultimately benefit as many as 50 million Nigerians.
The NELFUND chief called upon stakeholders, educational institutions, community leaders, and public officials to encourage eligible students and young people to utilize the opportunities offered by the organization.
Deputy Senate President Jibrin Barau, at the event, urged parents and students to pay close attention to information about the scheme and learn how to benefit from it. Barau praised the programme for providing essential financial support to students needing access to tertiary education and commended the committee’s nationwide engagement efforts.
Rep. Ifeoluwa Eyindero, Chairman of the House Committee on Student Loans, Scholarships, and Tertiary Education Financing, described the scheme as a valuable opportunity for students to pursue their academic goals without financial burdens. Eyindero expressed confidence that the sensitisation programme would further boost awareness and participation among eligible students.
Minister of State for Education, Prof. Suwaiba Ahmad, remarked that the programme comes at a critical time when many talented and deserving students face financial challenges in accessing tertiary education. Suwaiba highlighted the establishment of NELFUND as a demonstration of the Federal Government’s commitment to ensuring no qualified Nigerian student is denied education due to financial constraints.
Earlier, Chairman of the Senate Committee on TETFund, Sen. Muntari Dandutse, described the student loan scheme as a lifeline designed to remove financial barriers to higher education. Dandutse noted that many students have questions about eligibility and the application process, while others remain unaware of how to access the scheme.
He stated, “Let me state categorically: this is a lifeline, not a burden. This is your future, funded by your nation.” Dandutse also mentioned the committee’s partnership with NELFUND to raise awareness of the scheme through a zonal sensitisation approach, ensuring no geo-political zone is left behind.
Dandutse further disclosed that the National Assembly, in collaboration with the federal government, is working to establish NELFUND offices across the six geo-political zones to enhance accessibility and operational efficiency.