Founder of Zenith Bank Plc and Chairman of the Nigeria Education Loan Fund (NELFUND) Board, Jim Ovia, has praised President Bola Ahmed Tinubu for establishing the student loan scheme, saying it has given thousands of Nigerians the opportunity to pursue higher education.
Speaking during an interview on Channels Television, Ovia described NELFUND as a game-changing initiative that is helping students who might otherwise have been unable to attend university because of financial challenges.
“NELFUND definitely is addressing access to education, and we are glad that Bola Tinubu introduced it by setting up the Nigeria Education Loan Fund. It’s a very encouraging initiative,” Ovia said.
The NELFUND Board Chairman said the programme has continued to record impressive success, noting that many tertiary institutions across the country are already benefiting from the scheme.
He also dismissed claims that the education loan programme is being abused, insisting that it is fulfilling its primary objective of supporting students in need.
“Without the Nigeria Education Loan Fund, many students wouldn’t have gone to university at all. So, it’s not being abused; it’s being encouraged,” he stated.
Ovia urged eligible students to take advantage of the opportunity provided by the Federal Government, expressing confidence that completing their education would improve their chances of securing employment.
“Without NELFUND, they wouldn’t have gone to the university at all. They should be encouraged to take the opportunity to graduate, and they will get jobs,” he added.
The remarks come as NELFUND continues to expand its reach across the country. According to the agency, as of July 4, 2026, it had disbursed ₦303.9 billion in student loans to 1,635,676 beneficiaries from over 1.8 million applications.
The fund also announced that it released an additional ₦1.5 billion to 6,129 students across three institutions for the 2025/2026 academic session.
Source: Channels Television.
