The need to expand the scope of the Nigerian Education Loan Fund (NELFUND) to accommodate students across different academic programmes in tertiary institutions in the country, formed part of recommendations at the August 2025 Seminar of the Distance Learning Institute (DLI) of the University of Lagos(UNILAG).
The seminar paper titled: Access to Students’ Loan and Sustainability of Studentship in the University of Lagos , was delivered on Tuesday, August, 26, 2025 by a Mathematician and Deputy Dean II, Student Affairs Division, UNILAG, Dr. Ridiwanulahi Abdulganiy, at the DLI Boardroom, UNILAG.
Dr. Abdulganiy, in his delivery, traced the funding structure of tertiary education in Nigeria, to the pre-independence and early-independence era when government took sole responsibility. He identified population explosion, reduced government revenue and rising cost of living as some of the factors inhibiting tertiary education funding in Nigeria.
The resource person applauded the Federal Government for rising to the challenge of funding tertiary education by introducing the Nigerian Education Loan Fund (NELFUND) which covers obligatory tuition fees and monthly upkeep stipends of beneficiaries.
While sharing his findings on the impact of NELFUND, Dr. Abdulganiy said the initiative, addressed the challenge of funding, as well as bridged social and access gaps among students.
He however expressed reservations over the repayment plan especially in view of the continued surge in unemployment rate especially when compared with the number of graduates churned out annually across tertiary institutions in Nigeria.
The mathematician advocated stronger stakeholder engagements, continued capacity building for all handlers as well as periodic review of the NELFUND initiative so as to ensure that its purpose is not defeated.
He also solicited the provision of a dedicated funding system, transparency and a strong management structure to ward off corruption and ensure sustainability of the students’ loan scheme.
In her opening remarks at the seminar, the Director of the Distance Learning Institute, Professor Risikat Dauda described NELFUND as a timely intervention which lessened financial burden, a major challenge in the pursuit of tertiary education in Nigeria.
Applauding the resource person, Dr. Ridiwanulahi Abdulganiy for doing justice to the topic, Professor Dauda adjudged NELFUND a life changing initiative which gives hope to students from indigent homes and offers a platform for better learning outcomes irrespective of economic status of students.
The Nigerian Education Loan Fund (NELFUND) was established by the Federal Government of Nigeria through the Student Loans Act 2023, to address financial barriers in the higher education subsector. The Act was signed into law in April 2024 and the programme portal opened for applications in May 2024.
Report: Gbenga Gbelee
Photograph: Samuel Dosumu
