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President Bola Tinubu on Tuesday met with the Chairman of the Nigerian Education Loan Fund (NELFUND) Board and Zenith Bank founder, Jim Ovia, as well as the Fund’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, to review the progress of the Federal Government’s student loan programme.
Eko Hot Blog reports that the closed-door meeting, held at the Presidential Villa in Abuja, provided an opportunity for the NELFUND leadership to brief the President on the implementation of the scheme since its launch more than two years ago.
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Sources at the Presidential Villa said discussions centred on the number of beneficiaries reached, implementation challenges, opportunities for expansion and measures required to ensure the long-term sustainability of the programme.
A key issue raised during the meeting was the need to institutionalise the student loan scheme so it would continue beyond the current administration.
According to a source familiar with the meeting, President Tinubu expressed his determination to ensure the initiative remains a lasting national intervention rather than ending with a change in government.
“The President expressed his desire to ensure that this life-changing programme is here to stay. They also discussed leveraging the private sector to support the initiative.
“He expressed confidence in the leadership of the Chairman of the NELFUND Board, Jim Ovia, and the Managing Director, Akintunde Sawyerr, assuring them of the Federal Government’s full support.
“He said NELFUND is in the best interest of Nigerian students and the country,” the source said.
Another source disclosed that the meeting also explored strategies for strengthening the institutional framework of the scheme to guarantee its continuity for future generations of students.
NELFUND was established in 2024 following President Tinubu’s assent to the Student Loans (Access to Higher Education) Act, which created the legal framework for providing interest-free loans to eligible students in public tertiary institutions.
The scheme covers tuition and other institutional charges, as well as monthly upkeep allowances for beneficiaries.
According to figures on the Fund’s dashboard, as of July 4, 2026, NELFUND had disbursed more than ₦303 billion to 1,635,676 students across 315 tertiary institutions nationwide.
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