The Social Advocacy Front (SAF) has expressed disappointment that the former Presidential candidate of the Labour Party, Peter Obi described the student loan programme of the President Bola Tinubu administration as a wasteful venture.
It stated in a statement signed by its Chairman, Tahir Ibrahim Tahir, and Secretary, Shehu Attah, that the thinking behind that comment was flawed.
“It is deeply concerning and disappointing that Mr. Peter Obi, the presidential candidate of the Labour Party in the 2023 general elections, would choose to disparage such a laudable and life-changing initiative as the Nigerian Education Loan Fund (NELFUND).
“His comments, which appear unpatriotic and partisan, undermine a scheme that has brought measurable relief and hope to hundreds of thousands of Nigerian students and their families.”
SAF provided insights into the scheme and wondered how a politician could describe it in an uncomplimentary manner.
“For the avoidance of doubt, NELFUND was established to implement the Nigeria Student Loan Scheme, signed into law by President Bola Ahmed Tinubu in April 2024.
“The Fund provides interest-free loans to students in public universities, polytechnics, and colleges of education to cover tuition fees and essential living expenses.
“The scheme, which commenced operations in May 2024, is specifically designed to eliminate financial barriers to tertiary education and empower students from low-income backgrounds to pursue their academic aspirations without undue economic hardship.
“Under the programme’s clear and humane guidelines, beneficiaries are required to begin repayment only after securing employment and completing the National Youth Service Corps (NYSC).
“Repayments are further capped at a maximum of 10% of the beneficiary’s income, ensuring minimal financial strain on graduates.
“As of today, NELFUND has disbursed ₦155 billion in tuition and upkeep support to over 780,000 students, while approximately 1.3 million tertiary students have applied for the loan nationwide.
“Students from 262 tertiary institutions have already benefited, underscoring the growing reach and positive impact of the scheme on Nigeria’s education sector.
“Against this backdrop, it is troubling that a programme of such demonstrable value could be labelled “wasteful” for political expediency.
“The Social Advocacy Forum (SAF) strongly advises Mr. Peter Obi to desist from politicising a policy intervention that offers a sustainable and inclusive funding pathway for Nigerian students, ensuring that no student is denied education due to inability to pay tuition or meet basic living costs.
“We urge Mr. Obi to reassess his position, seek proper clarification on the structure and impact of the scheme, and refrain from further mischaracterisation of NELFUND,” it said.
The group also shed some light on some other policies of the Tinubu administration in the education sector.
“In addition to NELFUND, the Federal Ministry of Education has announced plans for nationwide implementation of Technical and Vocational Education and Training (TVET).
“TVET focuses on equipping learners with practical, hands-on skills and technical competencies for specific trades and professions.
“It is designed to bridge the skills gap, enhance employability, and promote entrepreneurship in sectors such as automotive technology, ICT, hospitality, construction, and other critical industries.
“These initiatives represent some of the bold, innovative, and comprehensive education funding and skills-development reforms of the Renewed Hope Administration. They deserve commendation and constructive engagement, not unwarranted condemnation.
“We reiterated the Forum’s strong support for the NELFUND scheme and commended President Bola Ahmed Tinubu’s administration for its courageous reforms.
“We further reaffirmed SAF’s endorsement of NELFUND, TVET, and other transformative programmes that have continued to attract national and international recognition,” it added.
