Nigerian students residing abroad do not qualify for the ongoing student loan programme in Nigeria. Akintunde Sawyerr, the Managing Director of the Nigerian Education Loan Fund (NELFUND), confirmed this on Friday, 31st May 2024.
Endorsed by President Bola Tinubu, the Access to Higher Education Act 2023 offers interest-free loans to financially disadvantaged students attending tertiary institutions solely within Nigeria. This initiative aligns with Tinubu’s commitment to bolster education funding. Approximately 60,000 individuals have subscribed on the NELFUND website, with 30,000 successfully completing the registration process.
Akintunde Sawyerr said, “Nigerians in Diaspora cannot benefit from the student loan. Nigerians schooling in the country are those we want to help. The law does not allow the FG to give loans to Nigerians studying abroad.”
Nevertheless, Adaramoye Lenin, the National Mobilisation Officer of the Education Rights Campaign, has criticised the exclusion of foreign students from the student loan scheme. He stated that this decision highlights the scheme’s failure to adequately address the educational requirements of Nigerian students. He accused the Nigerian government of utilising the scheme as a means to evade the responsibility of adequately funding education by transferring the financial burden onto students.