Nigeria @66: Student Loans Will Help Poor Nigerians Access Higher Education — Tinubu

President Bola Tinubu has said the Nigerian Education Loan Fund, NELFUND, will help ensure that children from low-income families are not forced to abandon higher education because their parents cannot afford the cost.

Tinubu made the statement on Thursday in his Independence Day address to Nigerians as the country marked its 66th anniversary.

The President listed the student loan scheme among measures introduced by his administration to support vulnerable Nigerians and expand access to opportunities.

According to Tinubu, the government’s social intervention programmes are designed to provide support for citizens while broader economic reforms create conditions for increased productivity, employment and prosperity.

He said NELFUND was specifically established to ensure that financial difficulties would not prevent qualified students from pursuing tertiary education.

The President said the initiative was part of a wider effort to address poverty and improve access to education, alongside programmes aimed at supporting poor households and strengthening essential public services.

“It is why the Nigerian Education Loan Fund is ensuring that the child of a low-income family need not surrender the dream of higher education simply because his parents cannot afford the fees,” Tinubu said.

He added that the government was also strengthening the National Social Register to improve the targeting of assistance to vulnerable households.

Tinubu said these measures should not be viewed as substitutes for economic prosperity but as temporary support that would help citizens move towards greater economic independence.

“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it,” he said.

The President also highlighted the role of education in building a productive economy, saying his administration would continue to invest in skills and opportunities for young Nigerians.

He said the government wanted to see more Nigerians producing goods, building businesses and creating employment opportunities within the country.

NELFUND was established to provide interest-free loans to eligible Nigerian students in public tertiary institutions. The scheme covers institutional charges and includes an optional upkeep allowance for beneficiaries.

The Federal Government has presented the programme as part of its efforts to remove financial barriers to higher education and expand opportunities for students from disadvantaged backgrounds.

In September, Vice President Kashim Shettima described NELFUND as a social equaliser that had provided financial relief to less privileged students and helped reduce barriers to higher education.

Tinubu said his administration would continue to strengthen basic education and other essential public services in collaboration with state and local governments as part of efforts to improve opportunities for Nigerians.