President Bola Tinubu has reaffirmed his commitment to ensuring that the Nigerian Education Loan Fund (NELFUND) becomes a permanent national intervention, following a closed-door meeting with the Fund’s leadership at the Presidential Villa, Abuja.
The meeting, held on Tuesday, brought together the Chairman of the NELFUND Board, Jim Ovia, and the Fund’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, to review the progress of the student loan programme more than two years after its launch.
According to Presidency sources, the NELFUND leadership briefed the President on the scheme’s performance, including the number of beneficiaries, implementation challenges, opportunities for expansion and measures required to keep the programme financially sustainable.
A key part of the discussion focused on ensuring the student loan initiative continues beyond the current administration and remains a lasting support system for future generations of Nigerian students.
“The President expressed his desire to ensure that this life-changing programme is here to stay,” a Presidency source said.
“They also discussed leveraging private sector support for the initiative. He expressed confidence in the leadership of NELFUND Board Chairman, Jim Ovia, and Managing Director, Akintunde Sawyerr.
“He said they have the full support of the government and that NELFUND is in the best interest of Nigerian students and the country.”
Another source said the meeting also explored ways of institutionalising the scheme to guarantee its continuity regardless of future changes in government.
NELFUND was established in 2024 after President Tinubu signed the Student Loans (Access to Higher Education) Act into law. The legislation provides the legal framework for interest-free loans to eligible students in public tertiary institutions, covering tuition, institutional charges and monthly upkeep allowances.
According to checks on the Fund’s dashboard, as of July 4, 2026, NELFUND had disbursed more than ₦303 billion to 1,635,676 students across 315 beneficiary institutions.
