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By Tracy Moses
The Nigerian Education Loan Fund (NELFUND) may expand its student loan programme to cover private tertiary institutions within the next three years, the Fund’s Managing Director, Mr. Akintunde Sawyerr has said.
Sawyerr made this known during a stakeholder engagement and public awareness campaign held in Enugu on Friday, May 16, 2025, with institutional heads and education stakeholders.
The campaign was tailored to local languages to ensure inclusivity and better understanding among participants, aiming to boost uptake of the loan initiative in the region.
He explained that while the current priority is on students in public universities and colleges, the long-term objective is to make educational financing accessible to all Nigerian students, irrespective of whether they attend public or private institutions.
“We have only been operational for about a year now. Our immediate focus is on the public sector, where many students face the risk of dropping out due to minimal financial constraints,” Sawyerr said.
“Many of these students don’t have the option of switching to private institutions, so our first goal is to stabilise support in the public space. Perhaps in two or three years, once we assess the impact, we can begin reviewing options for extending the programme to the private sector.”
He stated that the agency’s main challenges are rooted in public misconceptions and misinformation, noting that some people believe the programme is inaccessible or deliberately exclusionary.
“Some individuals struggle with the technology and assume the system is rigged against them. But we’re here to assist, not just the students, but also to bring institutions on board,” he added.
Dr. Chinyere Onyeisi, Special Adviser to the Enugu State Governor on Education Innovation, also spoke at the event, stressing the importance of student loans as part of the broader education support structure.
“Education covers a wide range of needs, and this student loan scheme is a crucial support mechanism,” Onyeisi said. “Students in Enugu and across the Southeast should take full advantage of this opportunity.
“Our teachers and school heads here today must go back and continue the sensitisation, ensuring their students are well-informed on how to apply and benefit. This initiative is real, and other states are already seeing results.”