Revelation by the Nigerian Education Loan Fund (NELFUND) that 115 out of the 151 state-owned tertiary institutions are yet to submit data of their students to enable them to access the loan is greatly disturbing. It is indeed disappointing that after the initial delay in the implementation of the scheme, which ought to have started last year, the universities that are expected to be super diligent in their handling of the procedure leading to enjoyment of the loan by their students now appear to be a hindrance to the realisation of the dream. It will be a great disservice to the students if they fail to benefit from the programme on account of the careless and lukewarm attitude of their institutions.
NELFUND, in a statement on its official X handle, @NELFUND, recently wrote that the 115 institutions that have submitted data of their students represented 76.2 per cent of the total number of state tertiary institutions. According to the agency, only 36 of the institutions, representing 23.8 per cent, that have been onboarded on the platform could apply for the student loans effective July 7, 2024.”
NELFUND listed some of the 36 state institutions as Adamawa State University, Mubi; Ramat Polytechnic, Maiduguri; Born State University; Mohammed Lawan College of Agriculture, Borno State; Edo State University, Uzairue; Ekiti State University, Ado-Ekiti; Gombe State University; Kingsley Ozumba Mbadiwe University, Imo State; Imo State University of Agriculture and Environmental Sciences, Umuagwo; Nuhu Bamalli Polytechnic, Zaria; Yusuf Maitama Sule University, Kano and Umaru Musa Yar’Adua University, Katsina, among others.
Such a scheme that is very crucial to the future of the young ones, with regard to their educational advancement, should not be allowed to suffer any avoidable delay. Many potential beneficiaries are already demoralised and their academic ambition waning as their parents, who are becoming poorer by the day due to the high cost of living in the country, can no longer sponsor them in school.
The announcement of the scheme in 2023 by President Bola Tinubu was a welcome development not only because many poor students, who are to benefit from it, would be able to overcome the most worrisome hurdle to their educational advancement, but also because the programme was scheduled to take off by September to October of the 2023/2024 academic session.
To show his commitment to the loan scheme, Tinubu raised a committee made up of ministries and agencies to work out the modalities for the disbursement of the loans. It was envisaged that the committee would have finished its job and every necessary thing put in place before the planned take off time. Higher institutions of learning have admitted new students, many of whom have managed to start studying for their courses while a lot of the old students and their parents struggle to get money to pay for fees that have even been increased in many schools amid the economic hardship in the country. Unfortunately, the scheme did not start at the scheduled time.
After missing the September/October take off time, the government said the programme would begin in January 2024, which also did not come to pass. What was heard about it from the government quarters on January 22, 2024 was how students would access the money and that the programme had been widened to accommodate young Nigerians, who are interested in acquiring skills outside tertiary institutions.
The Executive Secretary and Chief Executive Officer of the Students Loan Board, Dr Akintunde Sawyerr, said the process would be seamless, as there would be no human contact because everything would be automated. He further explained that the funds for successful students, which would be sourced from education tax, would be transferred directly to the schools’ account. Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed that Tinubu directed the expansion of the NELFUND to include students, who are interested in skill-development programmes.
Again, the hope of early implementation of the scheme, which was rescheduled for launch on March 14, 2024, was dashed when it was postponed barely 48 hours before the event. The reason given by Sawyerr was that some corrections were being made around the launch. He made the potential beneficiaries apprehensive when he said: “Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can actually roll this out in a meaningful, comprehensive, wholesome and sustainable way.”
Nigerian students have waited for too long for the loan scheme to start. There should be no any other form of delay. Now that it has taken off, we call on all the stakeholders to exhibit high sense of responsibility in ensuring its smooth implementation for the goal to be realised. The government must ensure that money is constantly available and sufficient to be disbursed as loans. The academic institutions must be diligent and timely in submitting data on enrollees from their schools to NELFUND while the benefiting students must respect the terms of the deal to ensure sustainability of the scheme for the benefits of millions of other indigent students. NELFUND owes this country a responsibility of ensuring that the scheme is not politicised. The agency must be prompt in handling or processing of requests for loans, which must be open to all needy and qualified students irrespective of political, religious or ethnic background.
