Alhaji Umar Faruk Lawal, Board Member representing students at the Nigerian Education Loan Fund (NELFUND), has said President Bola Ahmed Tinubu’s investment in the student loan scheme is already yielding positive results across Nigeria’s tertiary education sector.
Lawal said the establishment of NELFUND has significantly expanded access to higher education by removing financial barriers that previously prevented many young Nigerians from pursuing their academic aspirations.
Speaking to newsmen in Jos on Friday noted that student enrolment in tertiary institutions has increased considerably since the introduction of the interest-free loan programme, as more students from disadvantaged backgrounds now have the confidence to seek admission without worrying about tuition fees and other educational expenses.
According to him, before the introduction of NELFUND, many students who gained admission into universities, polytechnics and colleges of education were often forced to abandon their studies due to financial constraints.
“Today, students can focus on their academic pursuits without the constant fear of dropping out because of financial difficulties. “.
“The intervention of President Bola Ahmed Tinubu through NELFUND has changed the narrative for thousands of Nigerian students,” Lawal said.
He explained that the scheme has provided hope for students from less privileged families who previously viewed higher education as an unattainable dream.
“Many students can now aspire to study courses of their choice in tertiary institutions, knowing fully well that NELFUND will cater for their tuition fees while also providing monthly upkeep allowances to support their living expenses,” he added.
Lawal urged parents and guardians across the country to encourage their children and wards to take advantage of the loan scheme, describing it as a unique opportunity to acquire quality education without financial constraints.
He emphasized that the loans are interest-free and designed to ensure that no qualified Nigerian student is denied access to higher education due to economic hardship.
“I want to encourage parents to continue motivating their children to embrace this opportunity.
They should not allow financial challenges to kill their dreams of obtaining tertiary education because government has provided a reliable support system through NELFUND,” he said.
Highlighting the programme’s impact, Lawal cited success stories of outstanding students who have excelled academically under the scheme, including recent first-class graduates who acknowledged NELFUND’s support as instrumental to their achievements.
Among them is Oladepo Olugbenga, the overall best graduating student of Ladoke Akintola University of Technology (LAUTECH), who graduated with a first-class degree and a cumulative grade point average of 4.89 on a 5.0 scale.
Olugbenga publicly credited NELFUND for helping him overcome severe financial challenges during his academic journey, stating that the loan scheme made his achievement possible.
Lawal said such success stories demonstrate the transformative impact of the programme and validate the Federal Government’s commitment to investing in human capital development.
He commended the management of NELFUND for ensuring transparency and efficiency in the implementation of the scheme, while urging beneficiaries to remain committed to academic excellence.
Recent data released by NELFUND showed that the Fund has disbursed more than N206 billion to over 1.16 million students across 270 tertiary institutions nationwide within two years of operation.
The breakdown indicates that N128.84 billion was paid directly to institutions as tuition fees, while N77.45 billion was released to students as upkeep allowances.
Lawal described the figures as evidence that President Tinubu’s investment in education is yielding tangible results and helping to create a more inclusive higher education system where every Nigerian student, regardless of economic background, has an opportunity to succeed.
He expressed optimism that as awareness of the scheme continues to grow, more Nigerian students will benefit from the initiative, further strengthening the nation’s educational and socio-economic development.
