September 9, 2026
Vice President Kashim Shettima has described the Nigerian Education Loan Fund (NELFUND) as a landmark intervention of the President Bola Ahmed Tinubu administration, saying the scheme is providing crucial financial relief to less-privileged Nigerian students and breaking down economic barriers to higher education.
Shettima said NELFUND has emerged as a social equaliser and an important tool for poverty alleviation, by ensuring that students from financially disadvantaged backgrounds can access and remain in tertiary institutions.
The Vice President stated this on Wednesday in Abuja when he received the management team of the University of Abuja, led by its Vice Chancellor, Prof. Hakeem Babatunde Fawehinmi.
According to him, the provision of institutional-fee support and monthly upkeep allowances under NELFUND has created breathing space for students who might otherwise have been excluded from higher education because of financial hardship.
Recalling his own experience as a student at the University of Maiduguri, Shettima described NELFUND as a “very beautiful initiative” designed to give respite to children from poor families, stressing that poverty should no longer be a reason for any Nigerian to be denied the opportunity to pursue higher education.
The Vice President also declared that Nigeria has “crossed the rubicon” and is firmly on the path of sustainable economic development under President Tinubu, pointing to recent improvements in Nigeria’s sovereign credit ratings and outlooks by global rating agencies.
He attributed the improved economic outlook to stronger foreign exchange reserves, increased oil production, higher federal allocations following the removal of the petrol subsidy and the Federal Government’s ongoing macroeconomic reforms under the Renewed Hope Agenda.
Shettima also commended the management of the University of Abuja for restoring stability to the institution, assuring the university that the Federal Government would continue to provide necessary support for its development.
Earlier, the Vice Chancellor, Prof. Fawehinmi, praised Shettima for his leadership and support for the Tinubu administration, describing him as a mentor whose guidance has contributed to the effective management of the university.
Fawehinmi equally applauded NELFUND, saying the student loan scheme under President Tinubu’s Renewed Hope Agenda has contributed immensely to relative stability in Nigeria’s education sector, as students are now better positioned to access education and sustain their stay in school.
He said the university’s management and Governing Council considered it important to acknowledge the Vice President’s support, noting that the institution had worked hard over the past eight months to overcome challenges arising from its previous leadership history and restore stability.
The latest commendation from the Vice President and the University of Abuja leadership further highlights the growing significance of NELFUND as a major component of the Federal Government’s effort to make tertiary education more accessible while reducing the financial pressures confronting Nigerian students.