Obi’s comments on student loan scheme disappointing, says group
Editor
The Social Advocacy Front (SAF) has tackled the 2023 presidential candidate of the Labour Party, Mr Peter Obi, over his description of the federal government’s student loan programme as a “wasteful venture.”
In a statement jointly signed by its Chairman, Tahir Ibrahim Tahir, and Secretary, Shehu Attah, the group described Obi’s stance as “flawed” and “disappointing.”
The statement read, “It is deeply concerning and disappointing that Mr Peter Obi would choose to disparage such a laudable and life-changing initiative as the Nigerian Education Loan Fund (NELFUND). His comments, which appear partisan, undermine a scheme that has brought measurable relief to hundreds of thousands of Nigerian students and their families.”
Defending the initiative, the SAF noted that NELFUND was established under the Nigeria Student Loan Scheme signed into law by President Bola Tinubu in April 2024. The group explained that the fund provides interest-free loans to students in public tertiary institutions to cover tuition and essential living expenses.
The group further highlighted the repayment terms, noting that beneficiaries are only required to begin repayment after securing employment and completing the National Youth Service Corps (NYSC) programme.
The statement added, “As of today, NELFUND has disbursed ₦155bn in tuition and upkeep support to over 780,000 students, while approximately 1.3 million tertiary students have applied for the loan nationwide.
“Students from 262 tertiary institutions have already benefited, underscoring the growing reach and positive impact of the scheme on Nigeria’s education sector.
“Against this backdrop, it is troubling that a programme of such demonstrable value could be labelled ‘wasteful’ for political expediency. The SAF strongly advises Mr Peter Obi to desist from politicising a policy intervention that offers a sustainable and inclusive funding pathway for Nigerian students.”
The SAF also urged the former Anambra State governor to seek clarification on the structure of the scheme rather than engaging in “mischaracterisation.”
Beyond the loan scheme, the group lauded other educational reforms of the Tinubu administration, including the planned nationwide implementation of Technical and Vocational Education and Training (TVET).
According to the group, TVET is designed to bridge the skills gap and enhance employability in sectors such as ICT, automotive technology, and construction.
“These initiatives represent bold and innovative reforms of the Renewed Hope administration. They deserve commendation and constructive engagement, not unwarranted condemnation,” the statement concluded.
