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The Managing Director and Chief Executive Officer, Nigerian Education Loan Fund (NELFund), Mr Akintunde Sawyerr, has taken sensitization on student loan to Ekiti State with a charge to parents to encourage their children to take advantage of the opportunity to acquire education. Sawyerr, who said President Bola Tinubu, was keen on taking the burden of funding tertiary education away from parents, described the student loan scheme as “opportunity for Nigerian students to further their education to tertiary level”. The NELFund CEO spoke at the Palace of the Oore of Otun Ekiti and the Paramount Ruler of Moba land, Oba Adekunle Adeagbo, while addressing the traditional rulers and people of the 13 kingdoms in the Moba Local Government area on the need for them to encourage their children in public tertiary institutions to key into the student loan scheme of the Federal Government. He said, “Nigerians are learning for knowledge, they want to know, they want to learn. We are a very curious people. We want to know so much and the student loan policy has given people access and the opportunity to further their education to tertiary level. “The impact has been huge. In the last 24 hours, we have had 12,000 applications for the student loan. You can imagine, the impact has been huge. Since May last year, we have had a little less than 700,000 beneficiaries and over a million applications. It is unprecedented. “It shows you the pent up demand there has been and the political acumen of President Bola Tinubu to be able to see that this is what the country needs. If this country gets itself educated and on its feet, nobody will be able to threaten Nigeria. We are the greatest country in the world,” Sawyerr said. The NELFund boss, who lauded Oba Adeagbo for his interest in the advancement of his people, said, “This visit came about because of the proactive action of the paramount ruler of Moba land, who came to our office and asked us to ensure that none of the people in these 13 kingdoms under his rulership is left behind. “As soon as I saw that gesture, it was incumbent upon me to ensure that I come here as fast as possible. These are the sorts of opportunities we are looking for and we have been so well received. The paramount ruler is so proactive, he is so action-oriented, already he has set up structures for us to be able to work very easily. We are delighted. This is what President Tinubu is looking for, this sort of traction across the country”. Sawyerr, while appealing to the communities, said, “I want parents to key into this. I want them to be very focused and encourage their children to take this loan with very soft terms so that they can bring relief to themselves, bring fulfilment to their children and bring honour to Nigeria”. According to him, with the gesture, President Tinubu has taken the burden of committing high percentage of their household income on education of their children away from them, “so they can use that money to start businesses, to invest in other things”. NELFund Executive Director, Finance and Administration, Dr Femi Akinfala, assured the parents that their children were automatically qualified for the student loan once they secured admission to public tertiary institutions, as long as the student applied following normal channel. Akinfala said, “What the Tinubu administration has done with student loan scheme is to make parents forget the financing of the education of their children in public tertiary institutions as government would bear the burden through the loan”. In his remarks, the Oore of Otun Ekiti, Oba Adeagbo, expressed joy over the visit of the NELFund leadership and what the kingdoms would benefit from it, in terms of unfettered access of their sons and daughters to education. Oba Adeagbo, who lauded Sawyerr for his focus, passion and commitment to the project, prayed that God would continue to bless the government of Bola Tinubu in view of the laudable programmes, projects and policies. He said, “President Tinubu is working. This (student loan) is a testament to that fact. We should seize the opportunity. We are seeing an opportunity like this because President Tinubu, a man who values education, is on the seat. “We are the ones to develop ourselves. The only way there can be development is through education. Let us not take this for granted, let us mobilize our sons and daughters. “The result of this student loan, which gives our children access to education, is not really today, but in the future – 10 years, 20 years, 30 years, 40 years from now, we will begin to see the impacts. “We can remember what the late Premier, Chief Obafemi Awolowo, did, free education, today look at the impact in the Southwest”. A former Commissioner for Youths in the state, Gold Adedayo, who hailed from Moba, lauded President Tinubu for establishing NELFund, which he said was testament to the president’s priority attention to the education of the youths Adedayo said that since commencement of disbursement of loans to students by NELFund, there had been end to numerous requests for financial supports from students to the state government through the Ministry of Youths. Adedayo said, “The student loan scheme invented by President Tinubu, has not only liberated young and versatile Nigerians from the shackles of illiteracy, but has started bridging the existing gulf between the rich and poor, thereby exterminating class differences among Nigerian citizens”. Recall that NELFUND was established to implement the Nigerian Student Loan Scheme, signed into law by President Bola Tinubu in April 2024. The Tinubu-led administration’s initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses. The scheme, which began accepting applications in May 2024, was designed to eliminate financial barriers to education and support students from low-income families. Beneficiaries are expected to repay the loans after completing their studies and gaining employment. According to NELFund on November 6, to date, it has received 1.035,673 applications on its student loan portal since the official launch on May 24, 2024. Since its inception, NELFund has disbursed over ₦116.4billion in student loans, covering both institutional fees (N65.3bn) and upkeep allowances to students (N51.1bn) across 239 universities, polytechnics and colleges of education nationwide. Sawyerr described the development as “a defining moment in Nigeria’s journey toward equitable education financing. “Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education. It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda.” ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE
