The call for an expansion of the Nigerian Education Loan Fund (NELFUND) to cover all academic programmes in tertiary institutions has been renewed by a Mathematician and Deputy Dean II, Student Affairs Division, University of Lagos (UNILAG), Dr Ridiwanulahi Abdulganiy.
Speaking at the August 2025 Seminar of the Distance Learning Institute (DLI), UNILAG, held at the Institute’s Boardroom, Dr Abdulganiy delivered a paper titled “Access to Students’ Loan and Sustainability of Studentship in the University of Lagos.”
In his presentation, he traced the history of tertiary education funding in Nigeria to the pre-independence era when government bore full responsibility, noting that population explosion, dwindling revenue, and rising living costs have since hampered adequate financing.
Commending the Federal Government for introducing NELFUND to ease students’ financial burdens, he highlighted the fund’s impact in addressing funding gaps and promoting inclusivity in access to higher education. However, he raised concerns over the sustainability of the loan repayment plan, given Nigeria’s high unemployment rate and the rising number of graduates produced yearly.
Dr Abdulganiy advocated for stronger stakeholder engagement, capacity building for managers of the scheme, transparency, and a robust management framework to prevent corruption. He also recommended periodic reviews of NELFUND’s operations to ensure its objectives are not undermined.
Director of DLI, Professor Risikat Dauda, in her opening remarks, described NELFUND as a timely and life-changing intervention that reduces financial barriers to tertiary education. She applauded Dr Abdulganiy’s insightful presentation, affirming that the loan scheme offers hope to students from indigent backgrounds and enhances learning outcomes irrespective of socio-economic status.
Established through the Students Loan Act 2023, signed into law in April 2024, NELFUND was officially launched in May 2024 to address financial barriers in the higher education sector by covering tuition and upkeep stipends.
Report: Gbenga Gbelee
Photograph: Samuel Dosumu
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