…None from Southeast Institutions Due to Verification Delays
The Federal Government’s student loan initiative, managed by the Nigerian Education Loan Fund (NELFUND), has successfully disbursed over ₦2.9 billion in tuition loans to more than 27,000 students across 19 higher education institutions in Nigeria.
However, not a single institution from the Southeast is included among the beneficiaries, sparking controversy and allegations of exclusion.
In a recent interview, Akintunde Sawyerr, Managing Director of NELFUND, addressed the concerns, clarifying that the exclusion of Southeastern universities is not intentional but a result of the institutions’ failure to respond to verification requests.
NELFUND “is an equal opportunities program that seeks to reach every corner of the country,” Sawyerr stated.
He explained that the verification process is crucial as NELFUND is managing public funds and must ensure that the students receiving loans are indeed enrolled at the institutions they claim to attend.
Sawyerr emphasized that students from the Southeast studying in other regions have benefited from the loan scheme.
However, the delay in verification by institutions in the Southeast has hindered students in the region from accessing the funds. “Some institutions are more proactive than others,” Sawyerr noted, adding that since the controversy began, a few Southeastern institutions have started to respond.
The managing director also pointed out that the responsibility of applying for the loans lies with the students, but the verification process requires the cooperation of their institutions.
He encouraged students to hold their universities accountable for delays that may prevent them from benefiting from the program.
Sawyerr also mentioned that NELFUND is working with regulatory bodies to ensure that all institutions comply with the necessary procedures.
In response to questions about the higher number of applications from northern Nigerian universities, Sawyerr attributed it to the proactive nature of student unions, lecturers, and the leadership in those institutions.
He called on institutions in the Southwest, South-South, and Southeast to follow suit and support their students in applying for the loans.
The student loan initiative, signed into law by President Bola Tinubu, has faced skepticism due to previous postponements. However, Sawyerr assured that the delays were necessary to ensure the scheme’s integrity and prevent misuse of public funds.
As of now, NELFUND has received over 218,000 successful applications, with a potential disbursement of ₦71 billion if all applications are approved.
NELFUND is also planning to extend the loan program to vocational skills training, which poses additional challenges due to the lack of documentation among potential beneficiaries.
Sawyerr stressed the importance of proper verification and the need to organize the vocational training sector to ensure the loans are distributed effectively and responsibly.