President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to sustaining the Nigerian Education Loan Fund (NELFUND), describing the student loan scheme as a key instrument in the fight against poverty.
The President spoke on Tuesday, 10 November, during the All Progressives Congress (APC) presidential campaign rally at the Dutse Township Stadium in Jigawa State.
Tinubu said the programme would continue, adding that funds recovered by the Economic and Financial Crimes Commission (EFCC) would be channelled into NELFUND to support students seeking access to higher education.
“NELFUND is our weapon against poverty. And we will continue in that direction. We will continue,” the President said. He added that funds recovered from financial irregularities, as well as other assets recovered through anti-corruption efforts, would be invested in educating Nigerian children.
According to Tinubu, the initiative is aimed at reducing the financial burden on parents and expanding access to higher education for young Nigerians.
The President had earlier directed the EFCC to channel recovered funds into NELFUND.
The Minister of Education, Tunji Alausa, also announced that the Federal Executive Council had approved the use of unclaimed dividends in the Capital Market Trust Fund and funds in the Dormant Account Trust Fund to support the scheme.
The renewed assurance comes amid ongoing concerns over the rising cost of education and the accessibility of student loans in Nigeria.
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