NELFUND targets south-east, south-south institutions to boost loan participation

Akintunde Sawyerr, the chief executive officer (CEO) of the Nigerian Education Loan Fund (NELFUND), has urged tertiary institutions in the south-south and south-east regions to increase their participation in the student loan scheme.

Sawyerr spoke in Abuja on Monday during the agency’s stakeholders’ engagement session and technical workshop on system automation and the loan application process.

He cited “conspicuous disparities” in applications by institutions from south-south and south-east compared to other parts of the country.

He said the gathering was a critical milestone in the collective journey that NELFUND has embarked upon to deliver a fully digitized, transparent, and student-centric financial aid system for Nigerian higher education.

On reports that NELFUND is paying students who have already graduated, Sawyerr clarified that the fund is handling government and taxpayers’ money, noting that “no disbursement would be rushed”.

“We have to adhere to our processes. If a person has already paid their fees in their final year, and we’ve paid their tuition, it is the obligation of that individual to go to school. I know my fees are now being paid by an officer,” he said.

“But to complain that you’ve already graduated and you’ve left, the fact of the matter is people applied in their final year.

“You have to go through a process that allows us to make sure that they are the ones who are actually applying and who actually need it. Again, let me just point out this thing about delays.”

He explained that the goal of the gathering was to shape the platform’s future and “how we tackle real-world issues that both students and institutions confront”.

Ifeoluwa Ehindero, the chairman of the house committee on student loans, scholarships, and higher education financing, pointed out that for the system to be truly effective, “there is need to modernise and streamline how we manage, track, and deliver these funds to deserving students”.

According to the lawmaker, automating and optimising the NELFUND system aims to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.

“This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner,” Ehindero said.

“As members of the house of representatives committee on student loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.

“We need your expertise, your feedback, and your active participation to make sure that we have a system that works for everyone from the students applying for loans to the institutions managing the funds.

“This workshop is not just a platform for training but also an opportunity for collaboration.

“As you interact with the NELFUND system, your insights into how we can improve its functionality will be invaluable in helping us refine and enhance it to meet the needs of our institutions and students.”

Iyal Mustapha, the executive director of operations of NELFUND, noted that over 576,058 students have registered, with a total application value of N170,437,179,836.

Mustapha also called on institutions in the south-east and south-south to improve sensitisation efforts for timely loan applications.

Lawal Faruk, the representative of the National Universities Commission (NUC), said NELFUND is one of the best policies of the federal government.

“Our dream is to see NELFUND one day onboard all the students in the country, whether public or private,” Farouk said.

The three-day event, which began on Monday with universities, will continue with polytechnics, monotechnics, and institutes tomorrow.

The final day, on the 7th, will feature colleges of education, agriculture, health, and nursing.