Governor Lucky Aiyedatiwa of Ondo State has declared the Nigerian Education Loan Fund (NELFUND) a landmark intervention for students in tertiary institutions across Nigeria. The governor made this statement while receiving the management team of the loan agency on a courtesy visit to his office in Akure.
State Government Pledges Full Mobilisation
Governor Aiyedatiwa expressed his administration's full support for the initiative, pledging to actively mobilise students across Ondo State to ensure they benefit from the scheme. He described the programme as a critical complement to existing bursaries and scholarships, providing a vital additional platform for educational funding.
The governor emphasised that while bursaries and scholarships are non-repayable grants, the NELFUND loan directly addresses extra fees and financial shortfalls. He stated that the scheme effectively removes poverty as a barrier to higher education. "You can no longer use the excuse that your parents are poor or that you lack support. The government has now created a platform for everyone to access a university degree," Aiyedatiwa asserted.
A Data-Driven Approach for Maximum Impact
Commending President Bola Tinubu for initiating the programme, which was signed into law on April 4, 2025, Aiyedatiwa also praised the NELFUND Managing Director, Akintunde Sawyerr, and his team for their commitment. The governor expressed confidence that widespread awareness would lead to massive youth participation.
To this end, he revealed that the state government, through the Ministry of Education led by Professor Igbekele Ajibefun, a former vice-chancellor, would intensify sensitisation campaigns in public tertiary institutions. The governor urged NELFUND to adopt a data-driven strategy, comparing overall enrolment figures with loan applicant numbers to accurately assess performance, identify gaps, and guide future outreach efforts.
How the NELFUND Scheme Operates
In his remarks, Managing Director Akintunde Sawyerr explained that the visit was part of the agency's first South-West tour for the year, anchored on President Tinubu's vision. He outlined the mechanics of the scheme, designed for Nigeria's large youth population facing limited access to tertiary education.
Sawyerr clarified that applications are submitted entirely online, eliminating the need for personal connections or influence. Upon approval, institutional fees are paid directly to the beneficiary's school, and students also receive a personal stipend. He stressed that the loan is interest-free and its repayment is designed to be non-punitive.
"Repayment will commence two years after the completion of the National Youth Service Corps (NYSC) scheme through deductions based on the beneficiary's income," Sawyerr explained. He appealed for the state government's support to boost public confidence and participation, presenting a progress report to the governor for appraisal and feedback.
