NELFUND Boss Urges FG Partnership for Sustainable Student Loan Scheme

All Nigerians, regardless of their political views, have been urged by Mr. Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), to make sure that the student loans that President Bola Tinubu started in 2024 are sustainable.

The government, he added, was committed to making sure that student loans would become a legacy program that would endure beyond the current generation and serve as a means of promoting inclusive growth and national development.

According to a statement released by the organization’s media consultant on Tuesday, Sawyerr made the comment when speaking with the media in Abuja.

He reaffirmed the administration’s commitment to the long-term viability of the interest-free student loan program for Nigerian students enrolled in postsecondary institutions and those wishing to continue their studies.

Reiterating that Tinubu was dedicated to making sure the program got off to a good start, continued to run smoothly, and remained sustainable, he pointed out that the initiative was more than just paying for education; it was a foundation of transformation for the nation.

As Nigerians, we are all aware of how far behind this nation is in a lot of areas, he said. Given the potential we possess, this shouldn’t be. This is a program that ought to be supported, in my opinion, if we as Nigerians truly love our nation, regardless of which party or group we belong to.

He urged the collaboration of private sector companies, generous donors, philanthropists, and people who had faith in Nigeria’s greatness and future, saying that the government shouldn’t be left to handle all of the financial burden of an important program like the loan scheme.

He urged the media to keep up its effective watchdog role while reassuring them that NELFUND, under his direction, was steadfastly dedicated to the highest moral standards, business integrity, accountability, and transparency in the administration of the student loan program.

Additionally, Sawyerr reaffirmed his team’s dedication to fostering greater public trust and confidence in the loan program, saying that the choice to post loan data on the NELFUND website every day was made with purpose and thoughtfulness to allow for public review and to reassure potential private partners about the security and prudent use of their funding.

He also revealed that, in keeping with the Federal Government’s reinvigorated initiatives to promote employment and skill development, NELFUND had broadened its scope to include students enrolled in technical and vocational training institutes.

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He stated that the agency was collaborating with the National Board for Technical Education (NBTE), National Board for Business and Technical Education (NBBTE), and Federal Ministry of Education to guarantee the effective execution of the Technical and Vocational Education and Training (TVET) program, which was recently introduced by the Federal Government.

In order to support government efforts to expedite the training of technical and vocational workers required to promote national growth and development, NELFUND would be able to construct certain skill programs thanks to the synergy among the necessary agencies, he noted.

He said, “We broadened our framework to encompass students in technical and vocational training institutions, in line with our national employment and skills development objectives.”

The head of NELFUND addressed the situation of graduates who might not find employment two years after completing the mandatory National Youth Service Corp (NYSC), explaining that they were not required to start repaying their loans until they were employed. However, they were required to submit a sworn court affidavit to NELFUND at least every three months to inform them of their status.

A centralized job portal that connects loan recipients with potential employers in the public and private sectors in Nigeria and abroad will be developed and put into use in 2026, according to a statement made by Dr. Oluwafemi Akinfala, Executive Director, Finance and Administration, NELFUND.