FG Approves Extension of NELFUND Student Loans to Skill Acquisition Centres

The Nigerian Education Loan Fund is preparing to expand its student loan initiative to include vocational and skills acquisition programmes across the country. This upcoming extension aims to broaden access to opportunities that empower young Nigerians with practical, employable skills.

The Managing Director of the Fund, Akintunde Sawyerr, stated this during an interview in Abuja, noting that the move aligns with the Federal Government’s goal to strengthen both academic and technical capacity nationwide. He emphasised that President Bola Tinubu’s administration is committed to promoting inclusive human capital development that goes beyond conventional university education.

He highlighted the importance of skilled workers in national progress, stressing that nations thrive not only on academic knowledge but also on technical capability and hands-on expertise. According to him, Nigeria needs more people who can apply technical know-how to build, innovate, and power various industries.

Sawyerr explained that although the scheme initially focused on students in tertiary institutions, plans are underway to extend financial support to individuals enrolled in certified vocational and technical training centres. This expansion is designed to support the next phase of national development, which requires a strong balance between theoretical knowledge and practical competence.

He noted that several government ministries are already involved in skills development, including the Ministry of Youth Development, the Ministry of Education, and the Ministry of Digital Economy, which focuses on IT and digital skills. He added that the coming stage for Nigeria is one that requires people who can design, build, and operate across different sectors, making technical education essential.

According to him, NELFUND’s mandate includes supporting vocational skills, and the extension of the loan scheme will ensure more Nigerians can acquire practical abilities that improve employability and economic productivity.