Insight Northeast Nigeria delivers breaking news, politics, health, finance, and entertainment from Northeast Nigeria and beyond. Trusted by readers in 150+ countries.
The National Assembly (NASS) and the Nigerian Education Loan Fund have agreed to expand Nigeria’s student loan scheme from 1.6 million to seven million direct beneficiaries as part of efforts to widen access to tertiary education and skills development.
Managing Director of NELFUND, Akintunde Sawyerr, disclosed this on Monday at a national sensitisation programme on student loans organised by the Senate Committee on Tertiary Education and TETFUND in collaboration with the Fund.
Sawyerr said the scheme had so far disbursed N282 billion to support 1.6 million students across the country.
According to him, the planned expansion into skills acquisition and technical and vocational education is expected to significantly broaden the programme’s reach.
“Today, 1.6 million Nigerian students have directly benefited from the NELFUND scheme. If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives,” he said.
He added that the Fund was seeking the support of stakeholders to increase the number of beneficiaries to seven million students across tertiary institutions and vocational centres nationwide.
“With the planned expansion, we believe the programme can serve as a catalyst for national transformation and ultimately impact as many as 50 million Nigerians,” he said.
Speaking at the event, Deputy President of the Senate, Barau Jibrin, described the sensitisation campaign as timely, stressing that public awareness was essential for the success of any government programme.
“No matter how beneficial a programme is, if the intended beneficiaries are not adequately informed about it, its impact will be limited.
“People need to understand what the programme entails and how they can access it. That is exactly what this sensitisation campaign is all about and should be taken round the six geo-political zones,” he said.
Also speaking, Chairman of the House Committee on Students’ Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Eyindero, said the awareness campaign would help deepen understanding of the opportunities available under the scheme.
He noted that the programme had already recorded significant success, reaching more than 1.5 million students and disbursing over N282 billion in educational support.
Earlier, Chairman of the Senate Committee on TETFUND, Muntari Dandutse, said the sensitisation programme formed part of the committee’s oversight responsibilities and reflected its commitment to promoting equitable access to education for all Nigerians.
He reaffirmed the committee’s support for initiatives aimed at removing financial barriers to higher education and enhancing human capital development in the country.
