The National Assembly (NASS) and the Nigerian Education Loan Fund (NELFUND) have intensified efforts to expand the student loan scheme, with a target of increasing direct beneficiaries from the current 1.6 million to seven million students across the country.

The move formed part of discussions at a one-day national sensitisation programme on student loans organised by the Senate Committee on Tertiary Education and TETFund in collaboration with NELFUND in Abuja on Monday.

Speaking at the event, Deputy President of the Senate, Senator Barau Jibrin, described the sensitisation campaign as timely, noting that many indigent Nigerians were still awaiting access to the intervention programme.

According to him, no matter how beneficial a programme may be, its impact would remain limited if potential beneficiaries are not adequately informed about its objectives and access procedures.

“People need to understand what the programme entails and how they can access it. That is exactly what this sensitisation campaign is all about and should be taken round the entire six geo-political zones,” he said.

Managing Director of NELFUND, Akintunde Sawyerr, disclosed that the scheme had so far recorded over 1.6 million direct beneficiaries and disbursed more than N282 billion to support students in tertiary institutions across the country.

Sawyerr said the current figure translates to nearly 10 million Nigerians impacted indirectly when family members of beneficiaries are taken into consideration.

“Today, 1.6 million Nigerian students have directly benefited from the NELFUND scheme. If we consider that the average Nigerian family consists of about five people, it means we are directly and indirectly impacting nearly 10 million lives,” he said.

He added that the agency was seeking broader stakeholder support to expand the initiative to cover up to seven million beneficiaries in tertiary institutions and vocational centres nationwide.

The NELFUND boss further revealed plans to extend the scheme beyond conventional higher education to include skills acquisition, technical and vocational education and training (TVET), a move he said could ultimately impact about 50 million Nigerians.

“This expansion is necessary to drive the required national transformation by ensuring that more young Nigerians have access to education, vocational training and opportunities for self-development,” he added.

Also speaking, Chairman of the House of Representatives Committee on Student Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Ehindero, described the sensitisation programme as both timely and critical to deepening public awareness of the scheme.
He noted that the student loan initiative had already achieved significant milestones since its introduction.

“This sensitisation programme is both timely and important, as it helps create awareness and deepen understanding of the opportunities available to students through the scheme.

“The Fund has recorded the remarkable achievement of reaching over 1.5 million beneficiary students and disbursing more than N282 billion to support Nigerian scholars,” he said.

Earlier, Chairman of the Senate Committee on TETFund, Senator Muntari Dandutse, said the collaborative sensitisation programme was part of the committee’s constitutional oversight responsibilities and commitment to ensuring equitable access to education for all Nigerians.

He stressed that sustained awareness campaigns would enhance participation in the programme and enable more students from disadvantaged backgrounds to access funding for their education.