Leadnaija
The Nigeria Education Loan Fund (NELFUND) has raised concerns over the low number of student loan applications from Nigeria’s South-East and South-South regions, urging stakeholders to drive awareness and participation in the scheme.
Speaking during the inauguration of a three-day engagement and technical workshop in Abuja on Monday, Iyal Mustapha, NELFUND’s Executive Director of Operations, revealed application statistics that show a stark regional disparity in uptake.
According to Mustapha, only 27,098 applications were received from the South-East, while the South-South accounted for 37,180. In contrast, the North-West recorded the highest number of applications with 157,831, followed by the North-East with 127,058, South-West with 92,850, and North-Central with 74,120.
Mustapha attributed the low figures in the southern regions to student skepticism about the authenticity and sustainability of the loan initiative.
Akintunde Sawyerr, Managing Director and CEO of NELFUND, emphasized that the loan scheme is not just another government program but a transformative national policy aligned with President Bola Tinubu’s education agenda.
“We are building a foundation for national development—a Nigeria where every young person with ambition can access the education they deserve,” Sawyerr said. He called on stakeholders from the South-East and South-South to take ownership of the initiative and mobilize eligible students.
Also speaking at the event, Hon. Ifeoluwa Ehindero, Chairman of the House Committee on Student Loans, Scholarships, and Higher Education Financing, stressed the importance of system efficiency.
“We must modernize how we manage and distribute these loans to ensure timely, transparent access,” Ehindero said. He noted that while legislative backing is in place, collaboration with institutions and education leaders is key to making the system work.
The workshop aims to engage tertiary institution leaders in streamlining the loan application process and improving awareness of the initiative’s benefits. Continue Reading
