Speaking during the visit, Sawyerr encouraged parents across Moba land and beyond to motivate their children in public tertiary institutions to take advantage of the student loan initiative, describing it as a life-changing opportunity to pursue higher education without financial barriers.
He noted that President Bola Tinubu’s administration introduced the scheme to ease the heavy financial burden of tertiary education on Nigerian families, emphasizing that access to quality education remains a cornerstone of national development.
“Nigerians are a curious and knowledge-driven people. The student loan policy is giving them the opportunity to fulfil that desire to learn,” Sawyerr said. “In the last 24 hours alone, we have received over 12,000 new applications, and since May 2024, nearly 700,000 students have benefited from the scheme with more than one million applications received. It is unprecedented.”
Sawyerr lauded President Tinubu for the foresight to prioritise education through the interest-free loan initiative, adding that “a well-educated nation is one that cannot be threatened.”
He also praised Oba Adeagbo for his proactive engagement with NELFund and his determination to ensure that no student within the 13 kingdoms under his domain is excluded from the programme.
“This visit was inspired by the Oore’s commitment to his people. He came to our office in Abuja, insisting that Moba sons and daughters must not be left behind. That kind of leadership is exactly what we need to drive this initiative nationwide,” Sawyerr added.
Accompanying the NELFund boss, Dr. Femi Akinfala, the Executive Director of Finance and Administration, assured parents that their children automatically qualify for the loan once admitted into any public tertiary institution. He explained that the Tinubu administration’s policy effectively removes the financial strain from parents while empowering students to focus on their studies.
In his remarks, Oba Adekunle Adeagbo commended the Federal Government for implementing a visionary policy that will transform access to education for generations to come.
“We must seize this opportunity. The true impact of this initiative will be seen decades from now, just like the legacy of Chief Obafemi Awolowo’s free education in the South-West. Education remains the foundation of sustainable development,” the monarch said.
A former Ekiti State Commissioner for Youths, Mr. Gold Adedayo, also applauded President Tinubu for creating NELFund, describing it as a bold intervention that is bridging the gap between the rich and the poor by ensuring equal access to higher education.
Since its establishment following the signing of the Student Loan Act in April 2024, NELFund has processed over 1,035,000 applications and disbursed ₦116.4 billion in loans—₦65.3 billion for institutional fees and ₦51.1 billion as upkeep allowances—across 239 universities, polytechnics, and colleges of education nationwide.
The fund continues to provide interest-free loans to Nigerian students in public tertiary institutions, with repayment scheduled to begin after graduation and employment, in line with its mission to remove financial barriers and promote inclusive education.