The Federal Government has said students in tertiary institutions do not need political influence or “godfathers” to access loans under the Nigerian Education Loan Fund (NELFUND), stressing that the process is transparent, merit-based and fully automated.
Managing Director and Chief Executive Officer of NELFUND, Mr Akintunde Sawyerr, stated this in Akure during a visit by the management of the fund to Ondo State Governor, Lucky Aiyedatiwa, as the agency commenced its first South-West tour of the year.
Sawyerr explained that eligibility for the government-backed student loan scheme is determined strictly by clearly defined criteria, not personal connections.
According to him, applicants only need to have admission into a recognised tertiary institution and provide the required documentation.
He said students are expected to submit their bio-data and credentials, including their Joint Admissions and Matriculation Board (JAMB) or admission number and National Identification Number (NIN), through the official online portal.
“No student needs a godfather to access this loan. The entire application process is online. There is no physical networking, lobbying or referral involved,” Sawyerr said.
He added that under the scheme, institutional fees would be paid directly to the schools, while successful applicants would also receive stipends to support their upkeep.
The NELFUND boss said the initiative was designed to provide interest-free loans to young Nigerians in response to the country’s large youth population and the financial barriers limiting access to tertiary education.
He noted that repayment would begin two years after completion of the National Youth Service Corps (NYSC) through income-based deductions, stressing that the scheme is non-punitive.
Describing the programme as one of the most far-reaching reforms in tertiary education financing under the current administration, Sawyerr said it was anchored on the vision of President Bola Ahmed Tinubu, who signed the Nigerian Education Loan Fund Act into law on April 4, 2025.
He said the visit to Ondo State was to seek government support, boost public confidence and increase participation in the scheme, adding that a progress report had been presented to the governor for appraisal and feedback.
In his response, Governor Aiyedatiwa expressed strong support for the initiative, pledging that the state would mobilise students to take advantage of the interest-free loan scheme.
He described the programme as a historic intervention that complements existing bursaries and scholarships offered by state governments.
While noting that bursaries and scholarships are grants that do not require repayment, the governor said the loan scheme fills financial gaps, ensuring that no student is denied access to higher education because of poverty.
Aiyedatiwa urged increased sensitisation, campus-based engagements and a data-driven approach to assess uptake, address misconceptions and improve awareness among students across the state.
