Tinubu says student-loan scheme will protect poor families’ access to higher education
President Bola Tinubu says Nigeria’s student-loan programme will help children from low-income families remain in higher education when their parents cannot afford fees. NELFUND says more than 1.4 million students have benefited since 2024, with loans covering institutional charges and an optional monthly upkeep allowance.
President Bola Tinubu has said Nigeria’s student-loan scheme will help children from low-income families continue higher education despite their parents’ financial difficulties. In his Independence Day address, Mr Tinubu identified the Nigerian Education Loan Fund as one of the measures his administration is using to support vulnerable citizens and expand opportunities for young people. He said the fund would ensure that a child from a poor household did not have to abandon the prospect of higher education simply because the family could not afford the fees.
He linked the programme to the government’s wider effort to reduce poverty and create opportunities rather than merely manage hardship. The President said the programmes supporting vulnerable Nigerians were a bridge towards prosperity. He also said the government would strengthen basic education and other public services in cooperation with state and local governments.
NELFUND says more than 1.4 million students at 356 tertiary institutions have benefited from the scheme since it began in 2024. The fund provides interest-free loans to students in public tertiary institutions, covering institutional charges and upkeep. Under the scheme, NELFUND pays students’ school fees directly to universities.
Students may also receive an optional monthly upkeep allowance of ₦20,000, according to the supplied material. Mr Tinubu presented the loans as part of a broader policy that combines direct support for poorer households with economic reforms intended to generate jobs and income. He said the government’s objective was to build an economy capable of creating opportunities for Nigerians.
The address did not provide new figures on repayment, the number of applications rejected or the programme’s future funding. It did, however, place access to higher education among the administration’s stated priorities as it seeks to reduce the effect of household poverty on young Nigerians’ educational choices.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.