Dr. Akintunde Sawyerr, Managing Director of the Nigerian Education Loan Fund (NELFUND), has highlighted disparities in student loan applications between Nigeria’s northern and southern regions.
According to Sawyerr, students in southern Nigeria are showing reluctance to apply for loans due to doubts about the scheme’s viability, whereas their northern counterparts are more proactive in seeking financial support through the initiative.
Speaking to State House correspondents after the launch of loan disbursements by President Bola Tinubu at the Presidential Villa in Abuja, Sawyerr acknowledged the initial skepticism in the South: “In the southern part of the country, there’s growing awareness and interest. There’s been a lot of skepticism, and I think the most skeptical parts of the country are in the South; they question everything: is it true? Is it real? Is it a scam?”
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He emphasized the Fund’s commitment to dispel doubts as disbursements progress: “This is not NO FUND. This is NELFUND.”
Sawyerr noted the proactive support from northern institutions in facilitating loan applications: “Institutions in the north of the country have been very proactive at supporting and helping their students and providing their data to us.”
While acknowledging the current regional disparity, Sawyerr expressed optimism that skepticism in the South would diminish as more loans are disbursed: “I think we’ll see the skepticism that you can find mainly in the southern part begin to disappear when we start paying out.”
Addressing the distribution across educational institutions, Sawyerr mentioned that universities have shown the highest demand for loans, followed by polytechnics and colleges of education. Private institutions, however, were excluded due to their higher fee structures.
The national president of the National Association of Nigerian Students, Lucky Imonife, also spoke positively about the accessibility of the loans, stating, “Nigerian students are happy that the dream has come true. It was once a dream, it has become an act, and today is the presidential launch and disbursement.”
Imonife affirmed that the loans are accessible to students from all backgrounds: “Whatever background you belong to, you can assess the loan. Once you apply, you will get it, irrespective of your status, your age, and your class.”
The launch event marked a significant step in enhancing access to higher education financing in Nigeria, with stakeholders optimistic about its impact on students nationwide.
