NELFUND IS NOT WASTEFUL: SETTING THE RECORD STRAIGHT ON STUDENT LOANS AND NIGERIA’S EDUCATIONAL FUTURE

 



The recent circulation of a statement attributed to Mr. Peter Obi describing student loans as “wasteful” is not only misleading but also unfair to millions of Nigerian students whose lives have been positively transformed by the Nigerian Education Loan Fund (NELFUND). As President of the National Association of Polytechnic Students (NAPS), it is important to set the record straight and protect the truth from being distorted by politically convenient narratives.


While constructive criticism is welcome in every democratic administration, it must be anchored on facts, balance, and sincerity. Unfortunately, Mr. Obi has developed a pattern of making sweeping and unverified claims on critical national matters, particularly when such policies do not align with his political posture. Criticism that deliberately ignores progress, impact, and data does not strengthen national discourse it weakens it.


It is therefore imperative to call on Mr. Peter Obi to desist from the continuous peddling of unverified claims on policies of national importance, especially those directly affecting the future of Nigerian youths. For a public figure who popularized the mantra “Go and verify,” it is deeply ironic and disappointing that, he would speak dismissively on a student loan scheme without recourse to facts, data, or engagement with its beneficiaries. Leadership demands responsibility, not soundbites; verification, not selective outrage. Nigerians, particularly students, deserve discourse driven by evidence, not conjecture, and criticism rooted in sincerity, not political convenience.


NELFUND, established under the visionary leadership of President Bola Ahmed Tinubu, GCFR, is one of the most revolutionary interventions in Nigeria’s educational history. For the first time, Nigerian students regardless of background now have a structured, transparent, and sustainable pathway to quality tertiary education. No more loss of hope. No more forced dropouts. No more excuses of “I cannot afford school” while others advance simply because they were born into wealth.


As of 31st, January 2026, NELFUND has delivered verifiable results:


Nine hundred and forty thousand, three hundred and ninety-six (940,396) students have benefited from the scheme out of one million, five hundred and twenty-three thousand, one hundred and forty-eight. (1,523,148) applications.


₦101,068,919,810.00 (One hundred and one billion, sixty-eight million, nine hundred and nineteen thousand, eight hundred and ten naira) has been paid as institutional fees.


₦73,492,800,000.00 (Seventy-three billion, four hundred and ninety-two million, eight hundred thousand naira) has been disbursed as upkeep allowances.


Bringing the total loan disbursement to ₦174,561,719,810.00 (One hundred and seventy-four billion, five hundred and sixty-one million, seven hundred and nineteen thousand, eight hundred and ten naira).


These achievements are clear evidence that NELFUND is not wasteful but purposeful, impactful, and people-centred fully aligned with the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR. The scheme promotes access, equity, human capital development, and long-term economic productivity.


Words will indeed fail me to adequately commend the Managing Director of NELFUND, Mr. Akintunde Sawyerr, whose leadership has placed the agency on a global spotlight of transparency, accountability, and integrity. As the pioneer Managing Director, he has proven that capacity, not noise, delivers results.


Nigerian students are therefore urged to disregard misleading statements capable of discouraging participation in this life-changing initiative. NELFUND remains a golden opportunity one that every eligible student should seize without hesitation.


History will favour delivery over rhetoric. On student loans and educational access, NELFUND has delivered.


~Comr. Eshiofune Paul Oghayan, GCNPS (ShopRite),

President, NAPS

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