The National Assembly and the Nigerian Education Loan Fund have commenced efforts to significantly expand Nigeria’s student loan programme, aiming to increase the number of direct beneficiaries from 1.6 million to seven million students nationwide.
The initiative was announced on Monday during a national sensitisation programme on student loans organised by the Senate Committee on Tertiary Education and TETFund in partnership with NELFund.
Speaking at the event, Akintunde Sawyerr, Managing Director of NELFund, disclosed that the scheme has so far disbursed over ₦282 billion, directly benefiting approximately 1.6 million students across Nigeria.
According to Sawyerr, the impact of the programme extends beyond individual beneficiaries, positively affecting millions of households nationwide.
“Today, 1.6 million Nigerian students have directly benefited from the NELFund scheme. If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives,” he said.
He appealed to stakeholders to support the expansion of the programme, emphasizing its potential to drive national development through increased access to education.
“We are calling on stakeholders to support the expansion of the student loan scheme to reach up to seven million beneficiaries across tertiary institutions and vocational centres. This is critical for achieving meaningful and lasting national transformation,” Sawyerr stated.
The NELFund boss further revealed plans to broaden the programme’s scope to include skills acquisition, technical education, and vocational training, a move he said could eventually impact as many as 50 million Nigerians.
Deputy Senate President Barau Jibrin described the sensitisation campaign as timely and necessary, noting that many eligible students are yet to take advantage of the opportunities provided by the scheme.
“No matter how beneficial a programme is, its impact will remain limited if the intended beneficiaries are not adequately informed about it. People need to understand what the programme entails and how they can access it,” he said.
Jibrin added that the awareness campaign should be extended across all six geopolitical zones to ensure wider participation and accessibility.
Also speaking, Ifeoluwa Ehindero, Chairman of the House Committee on Student Loans, Scholarships and Tertiary Education Financing, said the sensitisation programme would strengthen public awareness and understanding of the opportunities available through the scheme.
“This programme is both timely and important because it helps create awareness and deepen understanding of the opportunities available to students through the student loan initiative,” he said.
Ehindero praised the programme’s achievements, noting that it has already reached more than 1.5 million students while disbursing over ₦282 billion to support higher education in Nigeria.
Meanwhile, Muntari Dandutse, Chairman of the Senate Committee on TETFund, said the sensitisation drive forms part of broader efforts to guarantee equitable access to education for all Nigerians through effective legislative oversight and support.
The renewed push by lawmakers and NELFund is expected to expand educational opportunities for millions of students while strengthening access to tertiary, technical, and vocational education across the country.
