The Nigerian Education Loan Fund (NELFUND)

The Nigerian Education Loan Fund (NELFUND) was introduced by the President Bola Ahmed Tinubu administration and enacted into law on June 12, 2023 through the Students Loan (Access to Higher Education) Act 2023. The loan scheme was established to ensure no Nigerian child is denied access to further education by providing succour to students in the payment of school fees. Following the increase in fees charged by a growing number of federal government tertiary institutions, as previous fees charged had long proved grossly insufficient, it became necessary to provide an alternative source of financing for the bourgeoning number of tertiary level students. In most countries of the world, education is not cheap.

It is therefore critically important that the correct, the most appropriate and the most beneficial decision is taken when choosing one’s educational pathway. Much credit must therefore be given to President Tinubu for ensuring the student loan is made available to both university and vocational training students alike. Perhaps it is time more Nigerians come to the realisation that the future of many a youth, is literally ‘in their hands’. The NELFUND is headed by the President’s appointee, Akintunde Sawyerr who is the Executive Secretary.