…Reduced Dropouts rates across tertiary institutions
A member of the Board of the Nigerian Education Loan Fund (NELFUND), Alhaji Umar Lawal, says the Fund is delivering results. Lawal represents the interests of students on the board. He said the establishment of NELFUND has reduced dropout rates across tertiary institutions.
According to him, financial hardship forced many students out of school in the past. However, that trend is now changing steadily. More students, he noted, are remaining enrolled and completing their studies.
“The creation of NELFUND has provided a long-lasting solution to the persistent challenges of school dropout and low enrollment in higher institutions across the country,” Lawal stated.
Tinubu’s Reforms Reshape Education Financing
Lawal praised President Bola Ahmed Tinubu for refocusing the Fund. He said the President’s intervention transformed NELFUND into a major education agency. As a result, the Fund now plays a strategic national role.
He explained that many students now pursue education with renewed confidence. Previously, limited funds discouraged academic continuity. Now, opportunity has replaced uncertainty for thousands of learners.
He added that the initiative reflects global best practices. Many countries, he observed, rely on student loan systems for access and equity.
Interest-Free Loans Expand Access Nationwide
Established as an interest-free loan scheme, NELFUND has recorded significant reach. Over 788,000 Nigerian students have benefited so far. Disbursements and stipends have exceeded N150 billion.
Lawal emphasized that the loans ease family financial pressure. Consequently, access to tertiary education has widened considerably. Enrollment stability, he said, is gradually improving nationwide.
Upkeep Allowances Strengthen Student Welfare
Lawal also commended the inclusion of monthly upkeep allowances. He said the policy goes beyond tuition payments. It directly supports students’ daily living needs.
He described the provision as thoughtful and student-centered. According to him, it promotes focus, stability, and well-being. This, he said, ultimately improves academic outcomes.
He further linked the scheme to the Renewed Hope Agenda.
The agenda prioritizes inclusive growth and human capital development.
Transparency, Accountability, and Responsible Use
Lawal reaffirmd NELFUND’s commitment to transparency and accountability. He assured students of effective and fair implementation. Sustainability, he said, remains a guiding principle.
He urged students to take full advantage of the scheme. At the same time, he called for responsible usage. According to him, the loans should advance academic excellence. Ultimately, he said, the goal is national development through education.