“I want parents to key into this. I want them to encourage their children to take this loan with very soft terms so that they can bring relief to themselves, bring fulfilment to their children and bring honour to Nigeria”
By John Odunayo
For the Oore of Otun Ekiti and the Paramount Ruler of Moba Land, Oba Adekunle Adeagbo Adeagbo, the visit of the Nigerian Education Loan Fund (NELFUND) leadership to his community was a great turning point in advancing education in Moba land.
The NELFUND team, led by the Managing Director/Chief Executive Officer, Mr Akintunde Sawyer, was at the palace of the Oore to sensitise the people of Moba land in 13 communities in the Moba Local Government area on the student loan policy of the President Bola Tinubu administration.
The visit was in response to Oba Adeagbo’s recent visit to NELFUND headquarters in Abuja to make case for youths in his area on how they can benefit from the student loan scheme to enhance their access to tertiary education and help the parents who erstwhile complained of resources to fund their children’s education.
NELFUND, which was established to implement the Nigerian Student Loan Scheme and signed into law by President Bola Tinubu in April 2024, provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
The scheme, which began accepting applications in May 2024, was designed to eliminate financial barriers to education and support students from low-income families. Beneficiaries are expected to repay the loans after completing their studies and gaining employment.
Prior to the arrival of the NELFUND team, the Oore Palace in Otun Ekiti was filled by parents, representatives oy youth, chiefs and traditional rulers and their representatives across the kingdoms in Moba land.
Happiness and satisfaction was boldly written on the face of the Oore as he played host to Sawyerr and his men as the NELFUND boss sensitized the people and made them see the purpose and benefits of the student loan scheme and how Moba sons and daughters in public tertiary institutions could access the loan without hitch.
Sawyerr charged the parents to encourage their children in public tertiary institutions to key into the student loan scheme to acquire education.
The NELFUND CEO also urged tertiary institutions students in Moba land and Ekiti State to take advantage of the scheme of President Bola Tinubu to finance their studies.
Sawyerr, who said that Tinubu was keen on taking the burden of funding tertiary education away from parents, described the student loan scheme as a means of broadening access to education and “opportunity for Nigerian students to further their education to tertiary level.
“The impact of the student loan has been huge. Between the official launch on May 24, 2024 and November 6, 2025, NELFUND has received 1.035,673 applications on its student loan portal. It has disbursed over ₦116.4bn in student loans, covering both institutional fees (N65.3bn) and upkeep allowances to students (N51.1bn) across 239 universities, polytechnics and colleges of education nationwide”.
The NELFUND boss, who said students were automatically qualified on gaining admission to public tertiary institutions, appealed to the communities, “I want parents to key into this. I want them to be very focused and encourage their children to take this loan with very soft terms so that they can bring relief to themselves, bring fulfilment to their children and bring honour to Nigeria.
“The student loan scheme represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education. It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda”
Sawyerr lauded Oba Adeagbo for his interest in the advancement of his people, saying, “This visit came about because of the proactive action of the paramount ruler of Moba land, who came to our office and asked us to ensure that none of the people in these 13 kingdoms under his rulership is left behind.
“The paramount ruler is so proactive, he is so action-oriented, already he has set up structures for us to be able to work very easily. We are delighted. This is what President Tinubu is looking for, this sort of traction across the country,” the NELFUND MD said.
NELFUND Executive Director, Finance and Administration, Dr Femi Akinfala, who assured the parents that their children were automatically qualified for the student loan once they secured admission to public tertiary institutions, said, “What the Tinubu administration has done with student loan scheme is to help parents bear the burden of financing the education of their children”.
In his remarks, the Oore of Otun Ekiti, Oba Adeagbo, expressed joy over the visit of the NELFUND leadership and what the kingdoms would benefit from it, in terms of unfettered access of their sons and daughters to education.
Oba Adeagbo, who lauded Sawyerr for his focus, passion and commitment to the project, said, “President Tinubu is working. This (student loan) is a testament to that fact. We should seize the opportunity.
“We are seeing an opportunity like this because President Tinubu, a man who values education, is on the seat. The only way there can be development is through education. Let us not take this for granted, let us mobilize our sons and daughters.
“The result of this student loan, which gives our children access to education, is not really today, but in the future – 10 years, 20 years, 30 years, 40 years from now, we will begin to see the impacts. We can remember what the late Premier, Chief Obafemi Awolowo, did, free education, today look at the impact in the Southwest,” Oba Adeagbo said.
