The Nigerian Education Loan Fund (NELFUND) has revealed that private institutions in Nigeria could benefit from the federal government’s student loan scheme within the next three years.
Mr. Akintunde Sawyerr, Managing Director of NELFUND, made this announcement during a strategic engagement and sensitisation campaign.
The campaign included the use of local dialects to improve understanding and encourage participation in the programme.
Sawyerr emphasized that the current focus remains on addressing the urgent financial needs of students in public universities and colleges.
However, the long-term goal is to extend financial support to all Nigerian students, regardless of whether they attend public or private institutions.
“We have only been operating for one year. We need to really address the public sector first. These loans help prevent students from dropping out due to small financial challenges,” he said.
“Many students in public institutions don’t have the option to attend private schools, and some are dropping out.
We want to make sure we’ve got them covered first. After about two to three years, when we see the impact of this programme on Nigerian youth, we can review and consider extending it to private institutions.”
Sawyerr also addressed common challenges faced by applicants, including misunderstanding, misinformation, and skepticism about the programme’s accessibility.
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“People have usual problems with technology and sometimes believe the system is rigged against them. But we are here to help people apply and to encourage institutions to participate,” he added.
Supporting the initiative, Dr. Chinyere Onyeisi, Special Adviser on Education Innovation to the Enugu State governor, stressed the importance of the loan scheme.
“Education is a vast area that requires significant attention. What the government is doing with NELFUND plays an essential role in student support,” she said.
Dr. Onyeisi urged school administrators to educate students on how to apply and benefit from the programme.
“The heads of institutions present are expected to continue the sensitisation in their schools, ensuring students understand the application procedures and apply effectively. This initiative is real, and students in other states are already benefiting,” she said.
