The National Assembly (NASS) is collaborating with the Nigerian Education Loan Fund (NELFUND) to expand the scheme from 1.6 million direct beneficiaries to 7 million, as part of efforts toward national transformation.
The Managing Director of NELFUND, Akintunde Sawyerr, said beneficiaries of the scheme, which has so far gulped ₦282 billion in disbursements, are expected to rise significantly, with plans to reach up to 50 million people through expansion into skills acquisition, technical and vocational education and training.
Speaking at a one-day national sensitisation programme on student loans organised by the Senate Committee on Tertiary Education and TETFUND in collaboration with NELFUND, the Deputy President of the Senate, Jibrin Barau, described the initiative as timely, noting that many indigent Nigerians are awaiting intervention.
“No matter how beneficial a programme is, if the intended beneficiaries are not adequately informed about it, its impact will be limited.
“People need to understand what the programme entails and how they can access it. That is exactly what this sensitisation campaign is all about, and it should be taken to all six geo-political zones.
In his remarks, the Chairman of the House Committee on Students’ Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Eyindero, also described the initiative as timely and important.
“This sensitisation programme is both timely and important, as it helps create awareness and deepen understanding of the opportunities available to students through the scheme.
“The Fund has recorded the remarkable achievement of reaching over 1.5 million beneficiary students and disbursing more than ₦282 billion to support Nigerian scholars,” Barau stated.
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Providing updated figures on the scheme’s coverage, the Managing Director of NELFUND, Akintunde Sawyerr, said 1.6 million Nigerian students have directly benefited so far, with an estimated indirect impact on about 10 million people.
“Today, 1.6 million Nigerian students have directly benefited from the NELFUND scheme. If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives
“We are, however, appealing to stakeholders on the need to expand the student loan scheme to target up to 7 million beneficiaries across Nigerian tertiary institutions and vocational centres for wider access and real national transformation,” Sawyerr added.
Earlier, in his welcome address, the Chairman of the Senate Committee on TETFUND, Senator Muntari Dandutse, said the sensitisation programme was part of the committee’s constitutional oversight responsibility and its commitment to ensuring equitable access to education for all Nigerians.
