Nigerian Education Loan Fund, NELFUND, don clear di air on top di student loan scheme, say di loan no be must for every student. Di fund talk say na only students wey genuinely need assistance suppose collect am.
Di clarification come out through reports wey Channels Television, TheCable and Punch carry on Wednesday, 21 October 2026. NELFUND explain say di scheme dey based on genuine need for assistance, no be compulsory programme wey every tertiary student must join. Di application remain voluntary.
Di statement dey important because e touch one belief wey dey among students say once you dey tertiary institution, na automatic say you must collect di loan. But di fund maintain say na support for people wey need am, and no be everybody.
Five days later, Vice-Chancellor of di University of Benin, Professor Edoba Omoregie (SAN), give him own view for interview with Vanguard on Monday, 26 October 2026. Omoregie call NELFUND one of di most significant public policy initiatives wey Nigeria don introduce since independence, and he talk say di model better pass di student loan systems wey United States and United Kingdom dey operate.
Di VC talk say NELFUND different well well for how person dey apply, di moratorium wey dey before repayment start, and di percentage of income wey dem go deduct when beneficiary start to repay. According to am, di scheme almost be like education grant.
Omoregie still talk say him no too impressed with di level of interest wey students dey show so far to access di fund. Him commend President Bola Tinubu for signing di initial student loan law wey former President Muhammadu Buhari introduce, and for later repealing am to bring new version through executive bill wey him describe as friendly to students and their sponsors.
Him talk say, “NELFUND is like manna from heaven. It is one of the most significant public policy initiatives ever introduced into this country since independence. I have to commend President Bola Tinubu for signing the NELFUND bill.”
Omoregie explain say di first version come during Buhari time but dem no sign am into law, and say Tinubu sign di first one before e later see operational defects and go back to parliament to enact new one early 2024.
