The Nigerian Education Loan Fund (NELFUND) has indicated that students attending private tertiary institutions in Nigeria could potentially benefit from the federal government's student loan scheme within the next two to three years. This prospective expansion was announced by Mr. Akintunde Sawyerr, the Managing Director and CEO of NELFUND, during a strategic engagement and sensitization campaign held in Enugu on Thursday. The campaign strategically incorporated the use of local dialects to enhance comprehension and encourage broader participation in the loan program across the region.
Prioritizing Public Institutions in Initial Phase
Mr. Sawyerr emphasized that NELFUND's immediate priority remains addressing the pressing financial needs of students enrolled in public universities and colleges across the country. He explained that the current phase of the program is specifically designed to support students in the public sector, where financial constraints often pose a significant barrier to educational attainment. "We have only been operating for one year. We need to really address the public sector first. These loans help prevent students from dropping out due to small financial challenges," he stated.
He further elaborated on the rationale behind this initial focus, highlighting the limited options available to many students in public institutions and the risk of dropout due to financial hardship. "Many students in public institutions don’t have the option to attend private schools, and some are dropping out. We want to make sure we’ve got them covered first."
Potential Expansion to Private Institutions
Looking ahead, Mr. Sawyerr conveyed the long-term vision of NELFUND to extend financial support to all eligible Nigerian students, irrespective of the type of institution they attend. He suggested a timeline for this potential expansion, stating, "After about two to three years, when we see the impact of this programme on Nigerian youth, we can review and consider extending it to private institutions." This indicates a phased approach, allowing NELFUND to establish its operations, assess its impact on public institutions, and then strategically plan for broader inclusion.
Addressing Application Challenges and Misinformation
During the sensitization campaign, Mr. Sawyerr also addressed common challenges encountered by prospective applicants. These include misunderstandings about the application process, the spread of misinformation regarding the program, and general skepticism about its accessibility. "People have usual problems with technology and sometimes believe the system is rigged against them. But we are here to help people apply and to encourage institutions to participate," he reassured the audience. The campaign in Enugu aimed to directly address these concerns through clear communication and outreach.
Enugu State Government's Support
Dr Chinyere Onyeisi, the Special Adviser on Education Innovation to the Enugu State Governor, voiced strong support for the NELFUND initiative. She underscored the critical role of the loan scheme in providing essential student support within the vast and demanding education sector. "Education is a vast area that requires significant attention. What the government is doing with NELFUND plays an essential role in student support," she affirmed.
Dr. Onyeisi further urged school administrators present at the event to actively participate in disseminating information about the loan program to their students. "The heads of institutions present are expected to continue the sensitisation in their schools, ensuring students understand the application procedures and apply effectively. This initiative is real, and students in other states are already benefiting," she emphasized, encouraging proactive engagement from educational institutions to maximize the program's reach and impact.