FG MOVES TO STANDARDIZE NELFUND OPERATIONS, HARMONIZE CHARGES, RESTORE PUBLIC CONFIDENCE
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By Aishat Momoh. O.
The Federal Government has pledged to standardize the operations of the Nigeria Education Loan Fund (NELFund) in a bid to restore public confidence and strengthen the scheme’s sustainability.
Minister of Education, Dr. Maruf Tunji Alausa, made this known on Saturday in Abuja while receiving the report of the Committee on Harmonization of NELFund Administration and Charges.
The committee, chaired by Permanent Secretary, Mr. Abel Olumuyiwa Enitan, and co-chaired by the Executive Secretary of the National Universities Commission (NUC), Professor Abdullahi Ribadu, also had as members Professor Akintunde Sawyerr, Mr. Mustafa Abdullahi, and Professor Folasade Olusola.
Dr. Alausa commended the committee for what he described as a crucial assignment for the education sector, noting that President Bola Ahmed Tinubu remains committed to expanding access to education, as demonstrated by the launch of the loan scheme early in his administration.
He acknowledged that initial challenges faced by NELFund stemmed from poor institutional communication and lack of standardized processes, but assured that the government is determined to address these gaps.
According to him, the recommendations, which include harmonizing fee structures, setting clear timelines for applications, strengthening institutional participation, leveraging technology, and improving public communication, will be implemented immediately. He emphasized that transparency, accountability, and effective monitoring will remain top priorities.
Presenting the report, Prof. Ribadu highlighted the need for sustainable repayment structures, robust feedback mechanisms, partnerships with financial institutions, and periodic policy reviews to ensure the scheme’s long-term success.
The Ministry reaffirmed that NELFund is designed to eliminate financial barriers, promote equal access to quality education, and support a more equitable and prosperous Nigeria.
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