NELFUND calls on South-South, South East to boost loan participation

By Mariam Abeeb

The Nigerian Education Loan Fund (NELFUND) has called on the South-South and South-East regions to increase their participation in the student loan scheme.

The Fund stated this during its stakeholders’ engagement session and technical workshop on system automation and the loan application process in Abuja.

The Fund cited a noticeable disparity in applications compared to other parts of the country.

The three-day event, which began on Monday with universities, will continue with polytechnics, monotechnics, and institutes tomorrow. The final day, on the 7th, will feature colleges of education, agriculture, health, and nursing.

Speaking , the The managing director and Chief Executive Officer of NELFUND, Akintundr Sawyerr, said the gathering is a critical milestone in the collective journey it has embarked upon to deliver a fully digitized, transparent, and student-centric financial aid system for Nigerian higher education.”

Responding to reports that NELFUND was paying students who have already graduated, he clarified that the Fund is handling government and taxpayers’ money, and no disbursement would be rushed.

“We have to adhere to our processes. If a person has already paid their fees in their final year, and we’ve paid their tuition, it is the obligation of that individual to go to school. I know my fees are now being paid by an officer.

“But to complain that you’ve already graduated and you’ve left, the fact of the matter is people applied in their final year. You have to go through a process that allows us to make sure that they are the ones who are actually applying and who actually need it. Again, let me just point out this thing about delays.”

According to him, the meeting is intended to influence how the platform evolves and how we address practical challenges faced by institutions and students alike.

Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, said for the system to be truly effective, there is need to modernise and streamline how we manage, track, and deliver these funds to deserving students.

According to him, by automating and optimising the NELFUND system, it aims to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.

“This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner.

“As members of the House of Representatives Committee on Student Loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.