Nigeria Expands Student Loan Scheme

The Nigeria — National Assembly (Nigeria) and the Nigeria — Nigerian Education Loan Fund (NELFUND) are intensifying efforts to expand the student loan scheme in Nigeria, aiming to increase direct beneficiaries from 1.6 million to 7 million students. This initiative, which has already disbursed over N282 billion, seeks to drive national transformation by ensuring more young Nigerians have access to education and vocational training. Key figures like Akintunde Sawyerr (MD of NELFUND), Barau Jibrin (Deputy President of the Senate), Ifeoluwa Ehindero, and Muntari Dandutse are actively involved in sensitisation programs to raise awareness and encourage participation across the country. The expansion also includes plans to extend the scheme to cover skills acquisition and technical and vocational education and training (TVET), potentially impacting up to 50 million Nigerians.