President Bola Ahmed Tinubu has praised the Nigerian Education Loan Fund (NELFUND) for its efforts in expanding access to tertiary education through the Federal Government’s interest-free student loan programme.
The President gave the commendation during a meeting with NELFUND Chairman, Jim Ovia, and the agency’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, at the Presidential Villa in Abuja.
Tinubu described the student loan initiative as an important part of his administration’s education reform agenda, noting that it is helping to reduce the financial burden that has prevented many qualified Nigerian students from pursuing higher education.
He also acknowledged the leadership of NELFUND for driving the implementation of the programme, with special recognition given to the agency’s Managing Director, Akintunde Sawyerr, for overseeing the rollout of the scheme across the country.
According to figures presented by NELFUND, the agency has disbursed more than ₦303 billion under the student loan programme, with over 1.64 million Nigerian students benefiting from the initiative nationwide.
The interest-free loans are designed to cover tuition fees and other approved educational expenses, providing financial support to eligible students without the burden of interest charges.
The student loan scheme is one of the key education initiatives under the Tinubu administration’s Renewed Hope Agenda, which aims to improve access to higher education, promote human capital development and ease the financial challenges faced by students and their families.
The Presidency said the progress recorded by the programme demonstrates the Federal Government’s commitment to investing in education and creating more opportunities for young Nigerians to complete their studies.
Government officials also expressed confidence that the continued implementation of the initiative will encourage greater enrolment in tertiary institutions, strengthen educational outcomes and contribute to Nigeria’s long-term economic growth by producing a more skilled and educated workforce.
