SAF Knocks Peter Obi Over ‘Wasteful’ Comment on Student Loan Scheme
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SAF Knocks Peter Obi Over ‘Wasteful’ Comment on Student Loan Scheme
By Alabidun Shuaib AbdulRahman
The Social Advocacy Front, SAF has expressed disappointment over remarks by the former presidential candidate of the Labour Party, Peter Obi, describing the student loan programme of President Bola Ahmed Tinubu’s administration as wasteful.
In a statement jointly signed by its Chairman, Tahir Ibrahim Tahir, and Secretary, Shehu Attah, on Monday, the group said the comment was flawed and failed to appreciate the impact of the initiative on Nigerian students.
“It is deeply concerning and disappointing that Mr. Peter Obi, the presidential candidate of the Labour Party in the 2023 general elections, would choose to disparage such a laudable and life-changing initiative as the Nigerian Education Loan Fund (NELFUND),” the statement read.
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“His comments, which appear unpatriotic and partisan, undermine a scheme that has brought measurable relief and hope to hundreds of thousands of Nigerian students and their families.”
The group explained that the Nigerian Education Loan Fund was established to implement the Nigeria Student Loan Scheme signed into law by President Tinubu in April 2024.
According to SAF, the Fund provides interest-free loans to students in public universities, polytechnics and colleges of education to cover tuition fees and essential living expenses.
It noted that the scheme, which commenced operations in May 2024, was designed to eliminate financial barriers to tertiary education and empower students from low-income backgrounds to pursue their academic aspirations without undue hardship.
“Under the programme’s clear and humane guidelines, beneficiaries are required to begin repayment only after securing employment and completing the National Youth Service Corps. Repayments are further capped at a maximum of 10 per cent of the beneficiary’s income, ensuring minimal financial strain on graduates,” the group stated.
SAF disclosed that NELFUND had so far disbursed N155bn in tuition and upkeep support to over 780,000 students, while about 1.3 million tertiary students had applied for the facility nationwide.
It added that students from 262 tertiary institutions had already benefited from the scheme, describing the development as evidence of its growing reach and positive impact on the education sector.
“Against this backdrop, it is troubling that a programme of such demonstrable value could be labelled ‘wasteful’ for political expediency,” the statement added.
The group urged Obi to desist from politicising what it described as a sustainable and inclusive funding pathway for Nigerian students.
“We urge Mr. Obi to reassess his position, seek proper clarification on the structure and impact of the scheme, and refrain from further mischaracterisation of NELFUND,” it said.
SAF also highlighted other education reforms under the Tinubu administration, including plans by the Federal Ministry of Education to implement nationwide Technical and Vocational Education and Training.
It explained that TVET focuses on equipping learners with practical and technical skills for specific trades and professions, with a view to bridging the skills gap, enhancing employability and promoting entrepreneurship in sectors such as automotive technology, ICT, hospitality and construction.
“These initiatives represent some of the bold, innovative and comprehensive education funding and skills-development reforms of the Renewed Hope Administration. They deserve commendation and constructive engagement, not unwarranted condemnation,” the group stated.
SAF reiterated its support for the student loan scheme and commended the Tinubu administration for what it described as courageous reforms in the education sector, pledging continued endorsement of NELFUND, TVET and other transformative programmes.
