The Social Advocacy Front (SAF) has criticised former presidential candidate of the Labour Party, Peter Obi, over his description of the Federal Government’s student loan programme as wasteful.
In a statement signed by its Chairman, Tahir Ibrahim Tahir, and Secretary, Shehu Attah, the group said Obi’s comments on the Nigerian Education Loan Fund (NELFUND) were flawed and politically motivated.
“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),” the statement read.
According to SAF, the scheme has provided measurable relief to hundreds of thousands of students and should not be undermined for partisan reasons.
The group explained that NELFUND was established to implement the Nigeria Student Loan Scheme signed into law by President Bola Ahmed Tinubu in April 2024.
It said the Fund provides interest free loans to students in public universities, polytechnics and colleges of education to cover tuition and living expenses, with repayment commencing only after beneficiaries complete the National Youth Service Corps (NYSC) and secure employment.
Repayments, it noted, are capped at a maximum of 10 per cent of beneficiaries’ income to reduce financial strain.
SAF disclosed that NELFUND has so far disbursed ₦155 billion in tuition and upkeep support to more than 780,000 students, while about 1.3 million tertiary students have applied nationwide. It added that students from 262 institutions have benefited from the scheme.
“Against this backdrop, it is troubling that a programme of such demonstrable value could be labelled ‘wasteful’ for political expediency,” the group said, urging Obi to reassess his position and seek clarification on the structure and impact of the initiative.
Beyond the student loan scheme, SAF also highlighted other education sector reforms under the Tinubu administration, including the planned nationwide implementation of Technical and Vocational Education and Training (TVET) programmes by the Federal Ministry of Education.
It said TVET is aimed at equipping learners with practical and technical skills to bridge the skills gap, enhance employability and promote entrepreneurship in sectors such as automotive technology, ICT, hospitality and construction.
Describing the initiatives as bold and innovative reforms under the Renewed Hope agenda, SAF reaffirmed its support for NELFUND, TVET and other education focused programmes of the current administration.