WorldStage– The National Assembly and Nigerian Education Loan Fund (NELFUND) on Monday renewed efforts to expand the student loan scheme, with a plan to increase direct beneficiaries from the current 1.6 million to, at least, seven million.
Managing Director and Chief Executive Officer of NELFUND, Mr Akintunde Sawyerr, disclosed this at a National Sensitisation Programme on Students Loan Scheme organised by Senate Committee on Tertiary Institutions/TETFund.
It was part of a broader strategy by the two organisations for national transformation.
Sawyerr described the student loan initiative as one of the success stories of President Bola Tinubu’s administration.
Highlighting the impact of the scheme, he said that 1.6 million Nigerian students had so far benefited directly from NELFUND interventions.
“Beyond the beneficiaries themselves, the funds disbursed through this programme continue to stimulate economic activities in and around tertiary institutions, creating a wider positive impact across communities,” he said.
Sawyerr, however, said that the current number of beneficiaries was insufficient to achieve the level of transformation required in the country.
“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.
“As we expand into skills acquisition and Technical and Vocational Education and Training (TVET), we believe as many as 50 million Nigerians could ultimately benefit from these interventions.
“That is the scale required to drive real national transformation,” he said.
The NELFUND boss urged stakeholders, educational institutions, community leaders and public officials to encourage eligible students and young people to take advantage of the opportunities provided by the organisation.
Deputy Senate President, Jibrin Barau, while speaking at the occasion, urged parents and students to pay close attention to information about the scheme and learn how to benefit from it.
Barau described the programme as one of the important and impactful government initiatives in recent times.
“It provides a lifeline for students who need access to tertiary education by giving them the financial support required to pursue their academic dreams.
“The fact that the committee is not limiting this effort to one zone but is travelling across the country to engage directly with students and parents is particularly impressive,” he said.
Rep. Ifeoluwa Eyindero, Chairman House Committee on Student Loans, Scholarships and Tertiary Education Financing, described the scheme as a valuable opportunity for students to pursue their academic aspirations without undue financial burden.
Eyindero expressed the confidence that the sensitisation programme would further boost awareness and participation among eligible students.
Minister of State for Education, Prof. Suwaiba Ahmad, said the programme came at a critical time when many talented and deserving students still faced financial challenges in accessing tertiary education.
Suwaiba said that the establishment of NELFUND demonstrated the Federal Government’s commitment to ensuring that no qualified Nigerian student was denied access to education because of financial limitations.
Earlier, the Chairman, Senate Committee on TETFund, Sen. Muntari Dandutse, described the student loan scheme as a lifeline designed to remove financial barriers to higher education.
Dandutse said that many students still had questions about eligibility and the application process, while others were unaware of how to access the programme.
“Let me state categorically: this is a lifeline, not a burden. This is your future, funded by your nation,” he said.
The lawmaker said that his committee partnered with NELFUND to take awareness of the scheme directly to Nigerians through a zonal sensitisation approach to ensure that no geo-political zone was left behind.
He said that the North-Central sensitisation covered Plateau, Nasarawa, Benue, Kogi, Kwara and Niger states as well as the Federal Capital Territory (FCT).
Dandutse disclosed that the National Assembly, in collaboration with the federal government, was working toward establishing NELFUND offices across the six geo-political zones to improve accessibility and operational efficiency.
