The Nigerian Education Loan Fund on Monday said that the ratio of females in tertiary institutions accessing the loans compared to males was not impressive.
The Fund’s Managing Director, Akintunde Sawyerr, made this known in Abuja during the International Women’s Day celebration on Monday.
Sawyerr was represented by Oluwatosin Sanusi, NELFUND’s Head of Investments and Funds Management.
According to him, one out of every five applications for the education loan fund is female, which is not encouraging.
“The NELFUND initiative is all about providing loans for students in tertiary institutions to pay for their fees and to take care of their welfare.
“There is also another part of the initiative which is the skill acquisition.
“It is underway, and it would also cover educational fees and fund purchases of equipment for entrepreneurship training.
“The skills acquisition programme places students on a monthly stipend, which is laudable; however, we have fewer women who are taking advantage of this initiative.
“Currently, we have a ratio of 4 to 1, which means for every four male applicants, we have just one female, which isn’t impressive,” he said.
Sawyerr said that NELFUND was working with women stakeholders to create awareness of the initiative and encourage female students to partake and enjoy the benefits of the dividends of democracy.
However, he emphasised that loan repayment upon graduation and employment was crucial for the programme’s sustainability.
Sawyerr explained that timely repayment would allow the initiative to expand, enabling more students across all government-owned institutions to benefit.
He further stated that the education loan fund was accessible to students at various levels in universities and polytechnics within federal and state-owned institutions.
According to him, the skill acquisition loan is not limited to tertiary students alone.
The Minister of State for Education, Dr Suwaiba Ahmed, lauded the federal government’s initiative.
She encouraged students to utilize the funds to ensure uninterrupted studies due to financial constraints.
Ahmed was represented by Dr Mufida Hussain, his Special Assistant on Education and Quality Assurance.
She said that the girl-child must optimise all opportunities presented, in order to break barriers and attain desired dreams and aspirations in life.
“Achieving gender equity requires bold, swift and decisive steps, and we cannot afford to wait.
“So, we must act now to break barriers and create opportunities for women and girls,” Ahmed said.
She said that the Federal Government was committed to gender equity and had invested in gender-balanced initiatives.
The National President of Female Students of Nigeria, Ms Choice Enebeli, commended NELFUND for advocating for female students to apply for and benefit from education loans.
“Women’s rights are human rights, and we must continue to strive for a world where women and girls have equal access to education, healthcare, economic opportunities, and leadership positions,” Uchenna said.
She promised to lead an awareness campaign on educational loans across the country for the benefit of female students.
