The Managing Director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has disclosed that the organization is considering the possibility of extending its student loan program to private institutions within the next three years.
This announcement was made during a strategic engagement and awareness campaign held with institutional leaders and stakeholders in Enugu on Thursday.
The campaign aimed to improve understanding and participation in the program by incorporating local dialects, thereby encouraging community involvement.
Sawyerr emphasized the necessity of prioritizing the urgent needs of students in public universities and colleges before expanding the initiative. He stressed that the overarching goal is to provide all Nigerian students, regardless of the type of institution they attend, with access to financial support for their education.
“We are still in our first year of operation. It is essential that we first tackle the issues facing the public sector. Many students in public institutions often lack the option to attend private schools, resulting in dropout rates. Our aim is to ensure they receive the necessary support before we consider broader initiatives,” he stated.
He further mentioned that after a period of two to three years, an evaluation could be conducted to assess the program’s impact on Nigerian youth and determine the feasibility of extending support to private sector students.
Sawyerr acknowledged the challenges faced by the Fund, including misunderstandings and misinformation about the program. He noted that some individuals express skepticism, believing the system is not designed to benefit them.
“There are common technological challenges that people encounter, leading to feelings of disenfranchisement. However, our commitment is to assist applicants and engage institutions in this process,” he added.
Dr. Chinyere Onyeisi, the Special Adviser to the Enugu State Governor on Education Innovation, highlighted the necessity for these loans, emphasizing education’s expansive nature, which requires substantial investment.
“The government’s efforts play a crucial role across various educational sectors. NELFUND specifically addresses student support, making it vital for students in the Southeast, particularly in Enugu, to take full advantage of this opportunity,” she remarked.
She urged educational leaders present to relay the information back to their institutions, ensuring that students are well-informed about the application process and can effectively apply to benefit from this initiative. “This program is genuine, and we have evidence that students in other states are already reaping its rewards.”
