The National Assembly, NASS, on Monday partnered with the Nigerian Education Loan Fund (NELFUND), to expand the student loan scheme from 1.6 million direct beneficiaries to seven million in a push for national transformation.

The Managing Director of NELFUND, Akintunde Sawyerr, announced the plan during a sensitization programme in Abuja. He said the scheme, which has disbursed ₦282 billion so far, is projected to cover 50 million Nigerians through planned expansion into skills acquisition, technical and vocational education and training.

Speaking at the one-day National Sensitization Programme on Student Loans, Deputy President of the Senate Barau Jibrin described the event as timely. He noted that more indigent Nigerians are still waiting to benefit from the intervention.

“No matter how beneficial a programme is, if the intended beneficiaries are not adequately informed about it, its impact will be limited,” Jibrin said. “People need to understand what the programme entails and how they can access it. That is exactly what this sensitization campaign is about and should be taken round the entire six geo-political zones.”

The programme was organized by the Senate Committee on Tertiary Education and TETFUND in collaboration with NELFUND to deepen awareness of the loan scheme.

Chairman of the House Committee on Student Loans, Scholarships and Tertiary Education Financing, Hon. Ifeoluwa Eyindero, also called the sensitization timely and important. He said it would help students understand opportunities available through the scheme.

“The Fund has recorded the remarkable achievement of reaching over 1.5 million beneficiary students and disbursing more than ₦282 billion to support Nigerian scholars,” Eyindero stated.

Providing clearer statistics, Sawyerr said 1.6 million Nigerian students have benefited directly from NELFUND so far. He added that considering an average family size of five, the scheme is indirectly impacting nearly 10 million lives.

“We are however appealing to stakeholders on the need to expand the student loan scheme to target up to 7 million beneficiaries across Nigerian tertiary institutions and vocational centers for required driving and real national transformation,” Sawyerr appealed.

Earlier in his welcome address, Chairman of the Senate Committee on TETFUND, Senator Muntari Dandutse, said the collaborative sensitization aligns with the committee’s constitutional oversight responsibilities.

Dandutse stressed that the committee remains committed to ensuring equitable access to education for all Nigerians through policies and programmes that reduce financial barriers to learning.