NASS, NELFUND Move to Expand Student Loan Scheme to 7 Million Beneficiaries
• Fund records over N282bn disbursement to 1.6 million students
• Expansion to include vocational, technical and skills acquisition programmes
Sunday Aborisade in Abuja
The National Assembly (NASS) and Nigerian Education Loan Fund (NELFUND) have commenced moves to expand the federal government’s student loan scheme from about 1.6 million direct beneficiaries to seven million students across tertiary institutions and vocational centres nationwide.
The planned expansion, stakeholders said on Monday, was aimed at deepening access to education and driving broader socio-economic transformation through increased support for students and trainees.
The initiative was unveiled during a national sensitisation programme on the student loan scheme organised by Senate Committee on Tertiary Education and TETFund, in collaboration with NELFUND in Abuja.
Speaking at the event, Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the scheme had so far disbursed more than N282 billion and directly benefited about 1.6 million Nigerian students.
According to Sawyerr, the impact of the programme extends beyond individual beneficiaries to millions of family members and communities across the country.
He stated, “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.”
Sawyerr added that NELFUND was seeking broader stakeholder support to expand the scheme’s reach to about seven million beneficiaries through inclusion of students in tertiary institutions, vocational centres, technical colleges and skills acquisition programmes.
He explained that the planned expansion would significantly increase the number of Nigerians benefiting from the intervention and strengthen efforts aimed at enhancing workforce development and national productivity.
Deputy President of the Senate, Senator Barau Jibrin, described the sensitisation campaign as critical to the success of the programme.
Jibrin stressed that many eligible students were yet to take advantage of the opportunity due to limited awareness.
He said, “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 entire six geopolitical zones.”
Chairman of House Committee on Students Loans, Scholarships and Tertiary Education Financing, Hon. Ifeoluwa Ehindero, said the programme had become a major intervention in widening access to higher education for indigent students.
Ehindero stated that the sensitisation exercise would further deepen public understanding of the opportunities provided by the scheme and encourage wider participation.
According to him, the fund has achieved significant milestones since its launch, reaching more than 1.5 million students and disbursing over N282 billion in educational support.
Earlier, Chairman of Senate Committee on TETFund, Senator Muntari Dandutse, said the programme formed part of the National Assembly’s oversight responsibility and commitment to promoting equitable access to education.
Dandutse said the collaboration between lawmakers and NELFUND would help ensure that more Nigerians, particularly those from disadvantaged backgrounds, benefitted from the federal government’s educational financing initiatives.
The student loan scheme is one of the flagship education interventions of the federal government designed to remove financial barriers to tertiary education and support human capital development across the country.