The Nigerian Education Loan Fund (NELFUND) has confirmed that the newly introduced Student Loan scheme excludes Nigerian students studying abroad. Managing Director Akintunde Sawyerr stated that the scheme is only available to indigent students attending Nigerian tertiary institutions, in line with the Access to Higher Education Act, 2023. The law provides interest-free loans to individuals pursuing higher education within Nigeria, fulfilling President Bola Tinubu’s campaign promise to enhance education funding. The scheme has garnered significant interest, with 30,000 successful registrations and over 60,000 sign-ups on the NELFUND website.
However, the exclusion of Nigerian students abroad has raised concerns. Adaramoye Lenin, National Mobilisation Officer for the Education Rights Campaign, criticized the scheme for shifting the financial burden, instead of properly funding public education. The loan scheme aims to provide financial assistance to indigent students, but its limitations have been highlighted by the expulsion of Nigerian pupils from Teesside University in the UK due to tuition fee difficulties. Those affected cited the naira’s Devaluation as a significant barrier.
Does the govt care about supporting Nigerian students abroad?
While the scheme is a step towards enhancing education funding, its exclusivity to Nigerian institutions raises questions about the government’s commitment to supporting Nigerians worldwide. The Access to Higher Education Act, 2023, signed into law by President Bola Tinubu on June 12, aims to provide interest-free loans to indigent students attending Nigerian tertiary institutions. The move is in line with Tinubu’s campaign promise to enhance education funding. Dele Alake, a member of the former Presidential Strategy Team, noted the significance of this Legislation in making education more accessible.
Following a briefing from NELFUND led by Minister of State for Education, Dr. Yusuf Sununu, on January 22, the President instructed the Fund to extend interest-free loans to those pursuing skill-development programmes. Despite these delays, the scheme has seen significant interest, with 30,000 successful registrations and over 60,000 individuals signing up on the NELFUND website. But on May 22, 2024, a group of Nigerian students at Teesside University were expelled from their courses and ordered to leave the United Kingdom due to difficulties in paying their tuition fees on time, according to a BBC report.
Is the govt using the scheme to avoid funding education?
Also, the devaluation of the Naira is a significant barrier to meeting their financial obligations, which has led to a breach of their visa sponsorship requirements. Still, Sawyerr clarified that the loan scheme was exclusively for individuals studying within Nigeria. “Nigerians in Diaspora cannot benefit from the student loan. Nigerians schooling in the country are those we want to help. The law does not allow the FG to give loans to Nigerians studying abroad,” he stated.
Criticizing the exclusion of Nigerian pupils in foreign institutions from the recently introduced loan, Adaramoye Lenin stated that this exclusion highlighted the inadequacy of the scheme in addressing the educational needs of Nigerians. He argued that the government was using the loan scheme to avoid properly funding public education, instead shifting the financial burden to students. The scheme has sparked debate about the government’s commitment to education funding. While the scheme provides much-needed financial assistance to those in need within Nigeria, its exclusivity to Nigerian institutions raises concerns about the government’s support for Nigerians studying worldwide.
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As the scheme continues to roll out, it remains to be seen how it will impact Nigerian students pursuing higher education. The government’s commitment to education funding and support for citizens studying abroad remains a pressing issue that requires attention. The scheme is a step in the right direction, but its limitations highlight the need for a more comprehensive approach to education funding in Nigeria. Its exclusivity to Nigerian institutions has also raised questions about the government’s priorities in education funding. While the scheme aims to provide financial assistance, its limitations have sparked concerns about the government’s commitment to supporting Nigerians worldwide.