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Managing Director Mr. Akintunde Sawyerr of the Nigerian Education Loan Fund (NELFUND) 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.
Additionally, he stated that the government was committed to making sure that student loans would become a legacy program that would endure beyond the current generation and serve as a means of promoting inclusive growth and the advancement of the nations.
Sawyerr made the statement in Abuja during a media interview, according to a statement released by the organization’s media consultant on Tuesday.
He reassured Nigerian students enrolled in postsecondary institutions and those aspiring to continue their education that the administration was dedicated to making the interest-free student loan scheme sustainable for the long run.
He reaffirmed Tinubu’s dedication to making sure the initiative got off to a strong start, operated smoothly, and remained sustainable, emphasizing that it was more than just a means of assisting with education; rather, it was a foundation for national transformation.
“As Nigerians, we are all aware of how this nation is falling behind in so many areas,” he said. We have the potential to make this not the case. Regardless of whether we belong to this party or that, or to this or that organization, I think that if we truly love Nigeria, we should support this program.
He said that the government shouldn’t be the only entity responsible for financing a program that has a significant impact, like the loan scheme. He called for the cooperation of private sector organizations, willing donors, philanthropists, and those who believed in Nigeria’s greatness and future.
Under his leadership, NELFUND was fervently dedicated to the highest ethical standards, corporate integrity, transparency, and accountability in the management of the student loan scheme, he said, while urging the media to continue playing its watchdog function successfully.
Additionally, 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 scrutiny 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.
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He said the agency was collaborating with the National Board for Technical Education (NBTE), National Board for Business and Technical Education (NBBTE), and Federal Ministry of Education to make sure the Federal Government’s recently introduced Technical and Vocational Education and Training (TVET) program was implemented successfully.
He went on to say that the cooperation of the pertinent agencies would allow NELFUND to develop certain skill programs as part of the organization’s contribution to government initiatives to speed up the training of technical and vocational staff required to promote national growth and development.
“In order to better align with our national employment and skills development goals, we extended our framework to include students in technical and vocational training institutions,” he noted.
Regarding graduates who might not find employment two years after completing the mandatory 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 to inform them of their situation.
A central job portal that connects loan recipients with potential employers in the public and private sectors in Nigeria and abroad will be developed and put into use in 2026, according to a statement made by Dr. Oluwafemi Akinfala, Executive Director, Finance and Administration, NELFUND.
