The National Assembly (NASS) and the Nigerian Education Loan Fund (NELFUND) are pushing for a major expansion of Nigeria’s student loan scheme, with plans to increase the number of direct beneficiaries from 1.6 million to seven million students nationwide.
The target was announced during a one-day national sensitisation programme on student loans organised by the Senate Committee on Tertiary Education and TETFund in collaboration with NELFUND in Abuja.
Speaking at the event, Deputy Senate President Barau Jibrin said the awareness campaign became necessary because many eligible Nigerians still do not fully understand how the programme works or how to access it.
According to him, public awareness remains critical to the success of the initiative.
“No matter how beneficial a programme is, its impact will remain limited if people are not properly informed about its objectives and access procedures,” he said.
NELFUND Managing Director, Akintunde Sawyerr, disclosed that the agency has already disbursed more than N282 billion under the scheme to support students in tertiary institutions across the country.
Sawyerr said the programme has so far recorded over 1.6 million direct beneficiaries, adding that the impact extends beyond students alone.
He explained that when parents, guardians and family members are considered, the scheme has indirectly affected nearly 10 million Nigerians.
According to him, NELFUND is now seeking stronger collaboration with lawmakers, institutions and other stakeholders to expand the initiative to seven million beneficiaries across tertiary institutions and vocational centres.
The agency also plans to extend the programme beyond conventional university education to include Technical and Vocational Education and Training (TVET) and skills acquisition programmes.
Sawyerr said the broader expansion could eventually impact up to 50 million Nigerians if fully implemented.
Chairman of the House Committee on Student Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Ehindero, described the sensitisation programme as timely, noting that the student loan initiative has already achieved significant progress since its introduction.
Chairman of the Senate Committee on TETFund, Muntari Dandutse, also said sustained awareness campaigns would help more students from disadvantaged backgrounds gain access to funding for their education.
