The Managing Director of the Nigerian Education Loan Fund, Mr. Akintunde Sawyerr, has taken the student loan sensitisation drive to Ekiti State, urging parents to encourage their children to leverage the initiative to further their education.
This was disclosed in a statement issued to journalists in Abuja on Friday by Omojola Seun-Ojerinde on behalf of the fund.
Seun-Ojerinde quoted Sawyerr as emphasizing President Bola Tinubu’s commitment to alleviating the financial burden of tertiary education from parents.
The NELFund chief described the student loan scheme as “an opportunity for Nigerian students to further their education to the tertiary level.”
Speaking at the Palace of the Oore of Otun Ekiti and Paramount Ruler of Moba land, Oba Adekunle Adeagbo, Sawyerr called on parents to motivate children in public tertiary institutions to participate in the Federal Government’s student loan programme.
“Nigerians are yearning for knowledge; they want to know, they want to learn. We are a very curious people.
“We want to know so much, and the student loan policy has given people access and the opportunity to further their education to the tertiary level.
“The impact has been huge. In the last 24 hours, we have had 12,000 applications for the student loan. You can imagine the impact has been huge.
“Since May 2024, we have had a little less than 700,000 beneficiaries and over a million applications. It is unprecedented.
“It shows you the pent-up demand there has been and the political acumen of President Bola Tinubu to be able to see that this is what the country needs.
“If this country gets itself educated and on its feet, nobody will be able to threaten Nigeria. We are the greatest country in the world,” Sawyerr said.
He also praised Oba Adeagbo for his proactive approach to improving the welfare of his people. “This visit came about because of the proactive action of the paramount ruler of Moba land.
“According to him, the paramount ruler came to our office and asked us to ensure that none of the people in these 13 kingdoms under his rulership is left behind.
“As soon as I saw that gesture, it was incumbent upon me to ensure that I come here as fast as possible.
“These are the sorts of opportunities we are looking for, and we have been so well received.
“The paramount ruler is so proactive, he is so action-oriented, and already he has set up structures for us to be able to work very easily. We are delighted.
“This is what President Tinubu is looking for, this sort of traction across the country,” he added.
Sawyerr reiterated that the Tinubu administration had lifted the financial strain of tertiary education from parents, allowing them to invest household income in other ventures.
Similarly, Dr. Femi Akinfala, Executive Director of Finance and Administration at NELFund, assured parents that their children automatically qualify for the loan once admitted into public tertiary institutions.
“What the Tinubu administration has done with the student loan scheme is to make parents forget the financing of the education of their children in public tertiary institutions as the government would bear the burden through the loan,” Akinfala explained.
The Oore of Otun Ekiti, Oba Adeagbo, welcomed the initiative, stressing that it would provide unfettered access to education for the kingdom’s youth.
He praised Sawyerr for his dedication and prayed for blessings upon the Tinubu administration.
“President Tinubu is working. This (student loan) is a testament to that fact. We should seize the opportunity.
“We are seeing an opportunity like this because President Tinubu, a man who values education, is in the seat.
“We are the ones to develop ourselves. The only way to achieve development is through education. Let us not take this for granted; let us mobilise our sons and daughters.
“The result of this student loan, which gives our children access to education, is not really today, but in the future – 10 years, 20 years, 30 years, 40 years from now, we will begin to see the impacts.
“We can remember what the late Premier, Chief Obafemi Awolowo, did, free education, today look at the impact in the South-West.”
Gold Adedayo, a former Commissioner for Youths in the state and a native of Moba, commended President Tinubu for establishing NELFund, highlighting that the initiative demonstrates the president’s commitment to youth education.
“The student loan scheme invented by President Tinubu has not only liberated young and versatile Nigerians from the shackles of illiteracy, but has also started bridging the existing gulf between the rich and poor.
“This is thereby exterminating class differences among Nigerian citizens,” Adedayo said.
NELFUND, created to implement the Nigerian Student Loan Scheme signed into law by President Tinubu in April 2024, provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
Since opening for applications in May 2024, the fund has received 1,035,673 applications and disbursed over ₦116.4 billion to students across 239 universities, polytechnics, and colleges of education nationwide, including ₦65.3 billion for tuition and ₦51.1 billion for upkeep allowances.
