The Ondo State Government has pledged to mobilise students across all the 18 local government areas of the state to apply for the Nigerian Education Loan Fund (NELFUND) interest-free loan scheme aimed at improving access to tertiary education.
Governor Lucky Aiyedatiwa made the commitment while receiving the management of NELFUND in his office as the agency commenced its first South-West visit of the year in Ondo State. He described the initiative introduced by the President Bola Ahmed Tinubu-led Federal Government as historic and unprecedented in the country.
Aiyedatiwa commended President Tinubu for introducing the education loan scheme, noting that it is the first of its kind in Nigeria and a major step toward addressing funding challenges faced by students in higher institutions.
He explained that the NELFUND initiative was designed to complement existing bursaries and scholarships already available to students, especially in easing the financial burden associated with tuition and other academic expenses.
“While bursaries and scholarships are free grants that require no repayment, the loan scheme addresses extra fees and financial gaps, ensuring that no Nigerian youth is denied access to university education due to poverty or lack of support,” the governor said.
“You can no longer say your parents are poor or that nobody is helping you. The government has created a platform for everyone to have access to a university degree,” he added.
The governor congratulated the Managing Director of NELFUND, Mr Akintunde Sawyerr, on his appointment and praised the management team for its commitment to driving the initiative across the country.
Aiyedatiwa expressed confidence that many youths in Ondo State would benefit from the loan scheme if awareness is adequately expanded. He assured that the state government would intensify sensitisation efforts, particularly among students in public tertiary institutions.
He said the state Commissioner for Education, Prof. Igbekele Ajibefun, a former vice-chancellor of Adekunle Ajasin University, Akungba-Akoko, has the capacity to effectively disseminate information about the scheme across universities and other public institutions in the state.
The governor urged NELFUND to adopt a data-driven approach by comparing enrolment figures with the number of students accessing the loan, saying this would help assess performance, identify gaps and guide future sensitisation efforts.
He also suggested campus-based engagements to address misconceptions, repayment concerns and limited understanding of the scheme among students at different levels of study.
According to Aiyedatiwa, the scheme would ease the financial burden on parents and instill responsibility and financial discipline in students, as beneficiaries would be conscious of their future repayment obligations.
Meanwhile, the Managing Director and Chief Executive Officer of NELFUND, Mr Akintunde Sawyerr, said the visit was anchored on the vision of President Tinubu, who signed the Nigerian Education Loan Fund into law on April 4, 2025.
He explained that the scheme was designed to provide interest-free loans to young Nigerians in response to the country’s large youth population and low access to tertiary education.
Sawyerr said applications are made online without the need for personal connections, adding that institutional fees are paid directly to schools, while beneficiaries also receive stipends.
He explained that repayment of the loan would begin two years after the completion of the National Youth Service Corps through income-based deductions, stressing that the scheme is non-punitive.
Sawyerr said the visit to the governor was to seek the support of the Ondo State Government to boost confidence and participation of students, adding that a progress report was presented to the governor for appraisal and feedback.
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