Vice President Kashim Shettima has said the Nigerian Education Loan Fund, NELFUND, is helping to break financial barriers preventing students from poor families from accessing and completing tertiary education.
Shettima described the scheme as one of the major social interventions of the Bola Tinubu administration, saying its support for tuition and students’ living expenses had made it an important tool for reducing poverty and expanding access to education.
The Vice President spoke on Wednesday when he received the management team of the University of Abuja, led by its Vice Chancellor, Prof. Hakeem Fawehinmi.
His remarks were contained in a statement issued by his Senior Special Assistant on Media and Communications, Stanley Nkwocha.
Shettima said the education loan scheme had made it possible for students from disadvantaged backgrounds to pursue higher education without allowing their families’ financial circumstances to determine their academic future.
He recalled his own experience as a student at the University of Maiduguri, particularly the difficulty students faced when the cost of food at the institution’s cafeteria increased.
“NELFUND is a very beautiful initiative by the leadership of this country under President Bola Ahmed Tinubu, created to give respite and breathing space to the children of the poor,” Shettima said.
He described the fund as a “social equaliser,” arguing that its intervention would help address poverty while strengthening the country’s human capital.
The Vice President also expressed optimism about Nigeria’s economic outlook, saying the country had “crossed the Rubicon” and was moving towards sustainable economic development.
He linked recent improvements in Nigeria’s sovereign credit ratings and outlooks by international rating agencies to stronger foreign exchange reserves, increased crude oil production, higher federal allocations following the removal of the petrol subsidy and ongoing macroeconomic reforms.
Shettima also praised the management of the University of Abuja for what he described as efforts to stabilise the institution and address challenges that had affected it in the past.
He said the university was now on a stronger footing and assured its management that the Federal Government would continue to provide support within available resources.
Earlier, Fawehinmi commended the Vice President for his contribution to the Tinubu administration and his support for the university.
The vice chancellor described Shettima as a mentor whose leadership had helped the institution’s Governing Board navigate some of its challenges.
“We have always known you to be a highly cerebral and dynamic leader. We appreciate the generous strides you are making in the country. We are not surprised at your intellectual agility,” Fawehinmi said.
He also credited NELFUND with helping to stabilise Nigeria’s tertiary education system, saying the scheme had enabled students to remain in school and meet some of the financial demands associated with their education.
Fawehinmi said the university’s management and Governing Council considered it necessary to appreciate the Vice President for his consistent support to the institution.
“Our recent history in terms of leadership has not been very palatable. There have been issues to do with our checkered history, but in the last eight months when we came on board, we tried our very best to stabilize the university,” he said.
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