The Managing Director of the Nigerian Education Loan Fund (NELFund), Mr. Akintunde Sawyerr, has taken the ongoing sensitisation campaign on the Federal Government’s student loan scheme to Ekiti State, calling on parents to encourage their children to take full advantage of the opportunity to pursue higher education.

This was contained in a statement issued in Abuja on Friday by the Fund.

Sawyerr emphasised that President Bola Tinubu remains committed to easing the financial burden of tertiary education on Nigerian parents, describing the scheme as “a golden opportunity for students to advance their education without financial barriers.”

Speaking at the Palace of the Oore of Otun Ekiti and Paramount Ruler of Moba land, Oba Adekunle Adeagbo, the NELFund CEO highlighted the overwhelming public response to the initiative.

“Nigerians are naturally curious and hungry for knowledge. The student loan scheme has opened the door for millions to access tertiary education. In just the last 24 hours, we have received over 12,000 new applications,” he said.

According to him, since May 2024, NELFund has recorded nearly 700,000 beneficiaries and over one million applications, reflecting both the demand for educational access and the foresight of President Tinubu in championing the initiative.

“If this country gets itself educated and firmly on its feet, no one will be able to threaten Nigeria. We are a great nation, and education is the key,” Sawyerr added.

Sawyerr praised Oba Adeagbo for his proactive commitment to ensuring that no community under his domain is left behind in accessing the student loan.

“The paramount ruler personally visited our office, insisting that all 13 kingdoms under his jurisdiction must benefit from this initiative. His foresight and support are commendable,” he said.

He further explained that President Tinubu’s administration aims to relieve families of the heavy financial burden associated with tertiary education, allowing parents to redirect their resources toward business and investment opportunities.

Also speaking, Dr. Femi Akinfala, NELFund’s Executive Director of Finance and Administration, reassured parents that once their children gain admission into any public tertiary institution, they automatically qualify for the student loan.

“The Tinubu administration wants parents to stop worrying about how to fund their children’s education. The government has taken on that responsibility through this interest-free loan scheme,” Akinfala said.

In his remarks, Oba Adekunle Adeagbo expressed gratitude for the visit, describing it as a blessing to Moba land and a milestone toward educational empowerment.

“President Tinubu values education, and this student loan scheme proves it. We must mobilise our sons and daughters to seize this opportunity. The true impact will be seen in decades to come — just like the legacy of Chief Obafemi Awolowo’s free education policy,” the monarch stated.

Similarly, a former Ekiti State Commissioner for Youths and indigene of Moba, Gold Adedayo, applauded President Tinubu for establishing NELFund, noting that it has reduced financial appeals from students to the government.

“The student loan initiative has liberated many young Nigerians from the shackles of illiteracy and is bridging the gap between the rich and the poor. It’s eliminating class barriers in education,” Adedayo said.

The Nigerian Education Loan Fund (NELFund) was established following the signing of the Nigerian Student Loan Act by President Bola Tinubu in April 2024. The scheme offers interest-free loans to students in public universities, polytechnics, and colleges of education, covering both tuition and living expenses.

Since its official launch on May 24, 2024, NELFund has received over 1,035,000 applications and disbursed ₦116.4 billion — comprising ₦65.3 billion for institutional fees and ₦51.1 billion for upkeep allowances — across 239 tertiary institutions nationwide.

Beneficiaries are expected to begin repayment after completing their studies and securing employment.