NASS, NELFUND Push Student Loan Reach Beyond 1.6 Million Students

The National Assembly (NASS)says it will collaborate with the Nigerian Education Loan Fund (NELFUND) to expand the student loan scheme from 1.6 million direct beneficiaries to 7 million, with the aim of driving real national transformation.

This is as the Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the scheme, which has recorded ₦282 billion in disbursements, is projected to impact up to 50 million beneficiaries through planned expansion into skills acquisition, technical, vocational education, and training programmes.
Speaking at a one-day National Sensitization Programme on Student Loans organized by the Senate Committee on Tertiary Education and TETFUND in collaboration with NELFUND, Deputy President of the Senate, Senator Barau Jibrin, described the sensitization exercise as timely, noting that many indigent Nigerians are still awaiting the intervention.
“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 sensitization campaign is all about and should be taken round the entire six geo-political zones,” he said.
In his remarks, the Chairman of the House Committee on Students Loans, Scholarships and Tertiary Education Financing, Hon. Ifeoluwa Eyindero, said the sensitization programme was both timely and necessary.
“This sensitization programme is both timely and important, as it helps create awareness and deepen understanding of the opportunities available to students through the scheme.
“The Fund has recorded the remarkable achievement of reaching over 1.5 million beneficiary students and disbursing more than ₦282 billion to support Nigerian scholars,” he said.
Providing more details on the scheme’s coverage, NELFUND Managing Director Akintunde Sawyerr stated that 1.6 million Nigerian students have directly benefited from the programme so far, a figure he said translates to about 10 million people when indirect beneficiaries are considered.
“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.
“We are, however, appealing to stakeholders on the need to expand the student loan scheme to target up to 7 million beneficiaries across Nigerian tertiary institutions and vocational centres for the required drive toward real national transformation,” he said.
Earlier in his welcome address, the Chairman of the Senate Committee on TETFUND, Senator Muntari Dandutse, said the collaborative sensitization programme was part of the committee’s constitutional oversight responsibilities and its commitment to ensuring equitable access to education for all Nigerians.