The Managing Director of the Nigerian Education Loan Fund (NELFund), Mr. Akintunde Sawyerr, has taken the government’s student loan sensitisation campaign to Ekiti State, urging parents to encourage their children to take advantage of the opportunity to further their education.
The visit was announced in a statement issued in Abuja by Omojola Seun-Ojerinde on behalf of the fund.
According to the statement, Sawyerr emphasised that President Bola Tinubu is committed to easing the financial burden of tertiary education on Nigerian families. He described the student loan initiative as a golden opportunity for students in public tertiary institutions to pursue higher education without financial barriers.
Speaking at the Palace of the Oore of Otun Ekiti and Paramount Ruler of Moba land, Oba Adekunle Adeagbo, Sawyerr urged parents to ensure their children apply for the loan.
“Nigerians are hungry for knowledge. The student loan scheme gives people access to pursue education up to the tertiary level,” he said.
He revealed that the response to the scheme has been overwhelming.
“In the last 24 hours alone, we received 12,000 new applications. Since May 2024, we’ve recorded nearly 700,000 beneficiaries and over a million applications. The demand has been unprecedented.
“It shows the foresight of President Tinubu, who recognised how critical this was for the country. If Nigeria is educated and empowered, no one can threaten us. We’re the greatest country in the world,” Sawyerr said.
He also praised Oba Adeagbo for personally visiting NELFund’s office to ensure that no student in the 13 kingdoms under his domain is left behind.
“The paramount ruler is action-oriented and proactive. He has already set up structures to make our work easier here. This is the kind of support President Tinubu hopes to see across the country,” he added.
Sawyerr stressed that by reducing the financial burden of school fees on households, parents can channel their income into business ventures and other investments.
Dr. Femi Akinfala, NELFund’s Executive Director of Finance and Administration, assured parents that any student who secures admission into a public tertiary institution automatically qualifies for the loan.
“What this administration has done is remove the burden of paying for public tertiary education from parents. The government now carries that responsibility through the loan scheme,” he explained.
In his remarks, Oba Adeagbo expressed joy over the visit, saying the initiative will expand access to education for children in the community. He praised Sawyerr’s passion and commitment and prayed for the success of the administration’s reforms.
“President Tinubu is working. This student loan programme is proof. Education is the foundation of development, and we must not take this opportunity for granted,” he said.
He noted that the long-term impact of the scheme would be seen in future decades, just as the legacy of Chief Obafemi Awolowo’s free education still shapes the South-West today.
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A former Ekiti State Commissioner for Youths, Gold Adedayo, also commended the president for establishing NELFund, describing it as a major step toward supporting young Nigerians. He said the loan scheme has significantly reduced the number of students seeking financial aid from the state government.
“The student loan has not only freed young Nigerians from the trap of illiteracy, but it is also helping to bridge the gap between the rich and the poor,” he said.
NELFund was created to implement the Nigerian Student Loan Scheme signed into law in April 2024. The initiative offers interest-free loans covering tuition and living expenses for students in public tertiary institutions. Beneficiaries begin repayment only after completing their studies and securing employment.
As of November 6, the fund reported over 1,035,000 applications since the portal opened on May 24, 2024. More than ₦116.4 billion has already been disbursed to students across 239 universities, polytechnics, and colleges of education nationwide.
