The Managing Director of the Nigeria Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has urged parents in Ogun State to motivate their children to benefit from the federal government’s education loan scheme introduced by President Bola Ahmed Tinubu.
Speaking during a sensitisation programme at Ijebu Ife in Ijebu East Local Government Area, Sawyerr said President Tinubu understands the vital role of quality education and is determined to ensure that no Nigerian is denied schooling due to financial hardship. He revealed that NELFUND has disbursed ₦116 billion in tuition fees and monthly upkeep since the scheme commenced in 2024.
“President Tinubu is committed to improving lives through education. Developed nations succeeded because they invested in education, not because of race or background. Parents must no longer keep their children at home due to lack of funds — NELFUND has solved that problem,” he stated.
He encouraged parents to spread the word and ensure their wards in universities, polytechnics, and colleges of education apply for the loan.
Also speaking, NELFUND’s Executive Director of Finance and Administration, Dr. Frederick Akinfala, dismissed claims that beneficiaries’ certificates would be seized, noting that the loan requires no guarantor. Repayment, he explained, begins two years after graduation, with 10% of the beneficiary’s salary. Those unemployed after graduation can notify NELFUND in writing to defer repayment.
Akinfala added that the scheme aims to make life easier for Nigerians, not to burden them.
Appreciating the initiative, Ijebu East Council Chairman, Dr. Dare Kehinde, commended President Tinubu’s effort and announced plans to establish a local support centre to assist students with the loan application process.
, Mr. Akintunde Sawyerr, has urged parents in Ogun State to motivate their children to benefit from the federal government’s education loan){kind=link}