The National Assembly (NASS) and the Nigerian Education Loan Fund (NELFUND) are working together to scale the student loan scheme from 1.6 million to 7 million beneficiaries, as part of a broader push to widen access to tertiary education and drive national development.

The collaboration was highlighted on Monday in Abuja during a one day national sensitisation programme on student loans, organised by the Senate Committee on Tertiary Education and TETFund in partnership with NELFUND.

NELFUND Managing Director, Akintunde Sawyerr, disclosed that the scheme had disbursed ₦282 billion and directly supported 1.6 million students across Nigeria. He added that when indirect beneficiaries are factored in, the intervention has impacted 10 million people, based on an average household size of five.

Sawyerr stated that the long term target is to expand coverage to 7 million beneficiaries, encompassing students in tertiary institutions as well as participants in vocational and skills acquisition programmes. He noted that the expansion would strengthen technical and vocational education and improve employability outcomes nationally.

The Deputy Senate President, Barau Jibrin, who also addressed the event, described the sensitisation exercise as timely, expressing concern that many eligible students remain unaware of how to access the scheme. He stressed the need to extend the programme across all six geopolitical zones to maximise its reach.

"No matter how beneficial a programme is, if the intended beneficiaries are not adequately informed about it, its impact will be limited," Jibrin stated.

The Chairman of the House Committee on Student Loans, Scholarships and Tertiary Education Financing, Ifeoluwa Eyindero, described the programme as an important step in deepening public understanding of available opportunities, noting that the fund had already recorded significant progress in supporting Nigerian students through financial assistance.

The Senate Committee Chairman on TETFund, Muntari Dandutse, framed the exercise as part of the National Assembly's oversight responsibilities and its commitment to ensuring equitable access to education for all Nigerians.