The South-South and South-East areas have been urged to participate more in the student loan program by the Nigerian Education Loan Fund (NELFUND).
This was said by the Fund on Monday in Abuja at a technical workshop and stakeholder engagement session on system automation and the loan application procedure.
When compared to other regions of the nation, the Fund saw a clear discrepancy in applications.
Universities kicked off the three-day event Monday, and tomorrow it will move on to polytechnics, monotechnics, and institutes. Colleges of education, agriculture, health, and nursing will be represented on the seventh day, which is the last day.
Speaking, the managing director and Chief Executive Officer of NELFUND, Akintundr Sawyerr, said the gathering is a critical milestone in the collective journey it has embarked upon to deliver a fully digitised, transparent, and student-centric financial aid system for Nigerian higher education.”
Responding to reports that NELFUND was paying students who have already graduated, he clarified that the Fund is handling government and taxpayers’ money, and no disbursement would be rushed.
“We have to adhere to our processes. If a person has already paid their fees in their final year, and we’ve paid their tuition, it is the obligation of that individual to go to school. I know my fees are now being paid by an officer.
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“But to complain that you’ve already graduated and you’ve left, the fact of the matter is people applied in their final year. You have to go through a process that allows us to make sure that they are the ones who are actually applying and who actually need it. Again, let me just point out this thing about delays.”
According to him, the meeting is intended to influence how the platform evolves and how we address practical challenges faced by institutions and students alike.
Ifeoluwa Ehindero, Chairman of the House Committee on Students Loan, Scholarships, and Higher Education Financing, said for the system to be truly effective, there is need to modernise and streamline how we manage, track, and deliver these funds to deserving students.
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According to him, by automating and optimising the NELFUND system, it aims to create a more transparent, efficient, and responsive process for loan applications, approvals, and disbursements.”This is essential for the success of the initiative and will go a long way in ensuring that our students benefit in a timely and accountable manner.
“As members of the House of Representatives Committee on Student Loans, we have been working tirelessly to ensure that the legislative framework supports and facilitates these reforms. However, legislative efforts alone are not enough.
“We need your expertise, your feedback, and your active participation to make sure that we have a system that works for everyone from the students applying for loans to the institutions managing the funds.
“This workshop is not just a platform for training but also an opportunity for collaboration. As you interact with the NELFUND system, your insights into how we can improve its functionality will be invaluable in helping us refine and enhance it to meet the needs of our institutions and students.”
Earlier in his presentation, Mr. Iyal Mustapha, Executive Director of Operations at NELFUND, said that more than 576,058 pupils had signed up, with a total application value of ₦170,437,179,836.
Additionally, he called on South East and South South institutions to increase their efforts to raise awareness about timely loan applications.
Lawal Mohammed Faruk, a representative of the National Universities Commission (NUC), stated that NELFUND is among the Federal Government’s top initiatives.
“Our dream is to see NELFUND one day onboard all the students in the country, whether public or private,” he said.
