The Nigerian Education Loan Fund, NELFUND, has announced plans to roll out specialized software to ensure that students with disabilities in higher institutions can seamlessly access its loan scheme.
The initiative was disclosed by NELFUND Managing Director/Chief Executive, Akintunde Sawyerr, during a stakeholders’ engagement on student loans in Benin City, Edo State.
Sawyerr emphasized that the Student Loan Act guarantees equal access for all students, adding that NELFUND will collaborate with the National Commission for Persons with Disabilities, NCPWD, to enhance inclusivity.
“We are working on a solution to make it easier for visually impaired students to apply for the loan. A specialized software is in development to facilitate this process,” he said.
The event brought together key stakeholders, including religious leaders, parents, persons with disabilities, government officials, teachers, and community representatives.
Sawyerr described the initiative, championed by President Bola Tinubu’s administration, as a transformative step for education in Nigeria.
Addressing concerns about loan repayment in the event of a beneficiary’s passing, Sawyerr clarified:
“The law states that if a borrower dies, the loan is not transferred to their family or any other individual. It is completely written off.”
He reaffirmed the government’s commitment to making tertiary education accessible to all Nigerians, stressing that the scheme is designed to support students who might otherwise drop out due to financial constraints.
“President Bola Ahmed Tinubu introduced this initiative to ensure that no Nigerian student is deprived of higher education due to financial difficulties. To actualize this vision, he established NELFUND, secured funding, and provided the political will to drive its success,” he added.
Edo State Deputy Governor, Dennis Idahosa, lauded the Federal Government for making the student loan scheme a reality.
“Many families have struggled to pay school fees. This initiative eases that burden. I also appreciate my former boss, then-Speaker of the House of Representatives, Femi Gbajabiamila, who championed this bill during the 9th Assembly, leading to its passage into law.”
Idahosa pledged that the Edo State Government would collaborate with NELFUND to aggressively raise awareness and ensure widespread participation in the scheme.
Speaking at the event, Edo State Commissioner for Education, Dr. Paddy Iyamu, highlighted the flexible repayment structure, noting that repayment begins only two years after completing the National Youth Service Corps, NYSC, with deductions set at 10% of the beneficiary’s salary.
In a lighthearted remark, he humorously advised parents against increasing their family size simply because tertiary education costs are now covered by NELFUND.
Iyamu praised NELFUND’s Managing Director for his dedication to the scheme, even giving him the Edo name “Efosa,” meaning “He Who Brings Blessings.”
He assured that the Governor Monday Okpebholo-led administration would fully support the initiative, leaving no stone unturned to ensure its success across Edo State.
