The Nigerian Education Loan Fund (NELFUND) is considering extending its student loan scheme to private institutions within the next three years. According to NELFUND’s Managing Director, Akintunde Sawyerr, the agency’s priority is to address the pressing demands of students in public universities and colleges.
Sawyerr stated, “We have only been going for one year. We need to really address the public sector first. The students that we see in the public sector don’t even have the option in most cases to go to private sector, and some of them are dropping out.”
Sawyerr stated this during a strategic engagement and sensitisation campaign with heads of institutions and other stakeholders in Enugu on Thursday.
The sensitisation campaign covered local dialects to enhance comprehension and encourage people in the region to key into the programme.
Sawyerr continued emphasising the need to first address the pressing demands of students in public universities and colleges, Sawyerr noted that the long-term goal was to ensure all Nigerian students, regardless of institution type, have access to financial support for their education.
“I think two, three years maximum, when we see the effect this has had on the generality of youths in Nigeria, we can then do some sort of review to see what it might mean for moving to the private sector segment.”
He said the only challenges of the Fund include misunderstanding, misinformation, people not being sure, or feeling that it’s designed not to work, among others.
“They just have a normal problem like everybody else has with technology, and then they say, this has been rigged against us. But we’re here. We’re not here to waste our time. We’re here to help the people apply and get institutions to also take part,” he added.
Dr. Chinyere Onyeisi, Special Adviser to the Enugu State Governor on Education Innovation, emphasized the importance of the loan scheme, saying education requires significant attention.
“So what the government is doing has an essential role to play in different areas of education. But this NELFUND has to do with the student support system. And it is important for our students in Southeast and Enugu in particular to maximise the opportunity to apply.”
She encouraged institutions to educate students on the application process, adding, “It’s real. And they are testifying that other states are already benefiting.”
