President Tinubu’s Student Loan Scheme is for all Nigerians, by Fredrick Nwabufo

The Student Loan Scheme is conceived with the purest, noblest, and loftiest of intentions. It is a commitment to securing the nation’s future and a promise of a prosperous destiny for many young Nigerians.

The core of the scheme is to remove financial barriers and ensure access to higher education and skill development for all Nigerian students in need, regardless of their background, religion, appearance, connections, or political and social affiliations. It is for all Nigerians.

As someone who had to take up an emergency job as an English and Literature-in-English teacher to pay my way through school after being orphaned at a young age, I feel a deep sense of relief and joy about the scheme. For many students like me, who struggled to navigate financial challenges in school, President Bola Tinubu’s Student Loan Scheme is a true opportunity, a beacon of hope, a chance for dreams to take flight, and a gateway to a bright future.

There have been unfounded allegations of excluding certain groups in the disbursement of loans and upkeep funds by the Nigerian Education Loan Fund (NELFUND), the agency responsible for the Student Loan Scheme.

NELFUND has provided clear information on the loan disbursement process. In response to these concerns, the Fund stated that it has “sent a verification list to every institution eligible for disbursement, and payments are being made to institutions that have responded to this verification.” However, some institutions have yet to respond.

NELFUND also clarifies that “the loan is open to all public tertiary institutions. The first phase of the loan is available only to students studying or wishing to study in federal higher institutions in Nigeria. Additional phases will be announced in due course. Students who have secured admission into any public Nigerian university, polytechnic, college of education, or vocational school, with proof of admission including their name, date of birth, admission letter, JAMB number, matriculation number, and BVN, are eligible. All full-time students can apply, but only those who apply will receive the loan.”

Clearly, only applicants—those who have applied—can benefit from the loan. However, there appears to be a lack of interest from certain regions of the country, particularly in the South. The Student Loan Scheme is a national program aimed at advancing the nation and benefiting all Nigerians. No region of the country will be excluded. It is a moving vehicle, and all groups are on board.

As of July 31, 2024, NELFUND has disbursed over N1.1 billion in tuition fees for 20,000 students, with disbursements made to various academic institutions based on their schedules. Additional disbursements have also been made.

Many institutions in the South-East, including the University of Nigeria, Nsukka, Nnamdi Azikiwe University, Ebonyi State University, Imo State Polytechnic, Abia State Polytechnic, and Abia State University, have already been included.

It is important for all of us to embrace this innovative governance model. Trust and confidence in the government are essential. The Student Loan Scheme is for everyone. No one is being excluded, and no one will be left behind.

– Nwabufo is Senior Special Assistant to the President on Public Engagement