The managing director of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has urged all Nigerians, regardless of their political views, to make sure that the student loans that President Bola Tinubu started in 2024 are sustainable.
He added that the government was committed to making sure student loans were a legacy program that would endure beyond the current generation and serve as a means of promoting inclusive growth and the advancement of the country.
Sawyerr made the comment in Abuja while speaking with the media, according to a statement released on Tuesday by the organization’s media consultant.
He gave Nigerian tertiary students and those wishing to continue their study his word that the administration was dedicated to making the interest-free student loan scheme sustainable over the long run.
He reaffirmed Tinubu’s commitment to making sure the program got off to a good start, continued to run smoothly, and remained sustainable, emphasizing that it was more than just a way to support education; it was a foundation for national transformation.
“As Nigerians, we all understand how this country is falling behind in so many areas,” he said. Given our potential, this shouldn’t be the case. I feel as citizens of Nigeria, if we really love this nation, whether we are in this party or that party, or this group or that group, this is a programme that must be supported.”
In order to finance an impactful program like the loan scheme, he urged the cooperation of private sector organizations, willing donors, philanthropists, and those who shared his belief in Nigeria’s greatness and future. He said that the government shouldn’t bear the entire burden of funding such a program.
He emphasized that NELFUND, under his direction, was fervently dedicated to the highest ethical standards, corporate integrity, transparency, and accountability in the administration of the student loan program, even as he urged the media to keep up its effective monitoring function.
In addition, Sawyerr reaffirmed his team’s dedication to fostering greater public trust and confidence in the loan program, saying that the choice to post loan data on the NELFUND website every day was made with purpose and intention in order to allow for public review and to reassure potential private partners about the security and prudent use of their funding.
In keeping with the Federal Government’s intensified efforts to promote job and skill development, he also revealed that NELFUND had broadened its scope to include students enrolled in technical and vocational training schools.
He stated that in order to guarantee the successful execution of the Technical and Vocational Education and Training (TVET) program, which was recently introduced by the Federal Government, the agency was collaborating with the Federal Ministry of Education, National Board for Technical Education (NBTE), and National Board for Business and Technical Education (NBBTE).
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According to him, NELFUND will be able to build some skill programs as part of its commitment to government efforts to speed up the training of technical and vocational professionals required to promote national growth and development because of the synergy among the relevant agencies.
“In line with our national employment and skills development goals, we broadened our framework to include students in technical and vocational training institutions,” he said.
Regarding the situation of graduates who might not find employment two years after completing the required National Youth Service Corp (NYSC), the head of NELFUND stated that they were not required to start repaying their loans until they were employed. However, they were required to submit a sworn court affidavit to NELFUND at least every three months in order to inform them of their current situation.
Additionally, in his statement, Dr. Oluwafemi Akinfala, the Executive Director, Finance and Administration, NELFUND, disclosed that a centralized employment portal would be developed and put into use in 2026 to connect loan recipients with potential employers in the public and private sectors in Nigeria and abroad.
