Governor Lucky Aiyedatiwa of Ondo State has characterized the Nigerian Education Loan Fund (NELFUND) initiative as a significant step forward for students in tertiary institutions across the nation.
In his statement of support for the program, Aiyedatiwa assured that his administration would engage students throughout the state to fully utilize the interest-free loan offering.
The governor's comments came during a visit from the NELFUND management team, marking their first trip to the South-West region this year in Ondo State.
Aiyedatiwa praised President Bola Tinubu for launching the initiative, noting that it complements existing scholarships and grants by providing an additional avenue for students to secure funding for their education.
He emphasized that while bursaries and scholarships are grants that do not require repayment, the loan scheme addresses additional fees and financial obstacles, ensuring that no young Nigerian is prevented from accessing university education due to economic constraints.
"You can no longer claim that your parents are unable to provide or that you lack support. The government has established a means for everyone to obtain a university degree," he stated.
The governor also acknowledged the Managing Director of NELFUND, Akintunde Sawyerr, along with the management team for their dedication to advancing the initiative, expressing confidence that many youths will reap benefits if public awareness is sufficiently increased.
He assured that the state government would ramp up awareness campaigns, especially among students at public universities, pointing out that his Commissioner for Education, Professor Igbekele Ajibefun—a former vice- chancellor—has the necessary experience to effectively communicate this information to universities and other institutions.
Aiyedatiwa urged NELFUND to implement a data-oriented strategy to compare enrolment statistics with the number of students utilizing the loan, suggesting that this approach could help evaluate performance, identify shortcomings, and refine future awareness campaigns.
In response, Sawyerr explained that the visit was aligned with President Tinubu's vision, who enacted NELFUND into law on April 4, 2025. He described the scheme as a means to offer interest-free loans to young Nigerians, addressing the country's substantial youth demographic and the low enrollment rates in tertiary education.
Applications are processed online without requirements for personal connections, and institutional fees are directed to schools. Beneficiaries also receive allowances, with repayment commencing two years after the completion of the National Youth Service Corps (NYSC) through income-based deductions, and the program is structured to be non-punitive.
Sawyerr mentioned that the agency is seeking the Ondo State Government's support to enhance participation and confidence, revealing that a progress report has been submitted to the governor for evaluation and feedback.
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