The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has pledged to review the Nigerian Education Loan Fund (NELFUND) and provide debt forgiveness for eligible students.
According to him, young Nigerians should not begin their
working lives weighed down by education loans.
Atiku’s position was conveyed in a statement issued on
Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu,
in response to President Bola Tinubu’s recent comments on X defending the
student loan scheme.
According to Shaibu, Atiku believes that the current approach to education financing places unnecessary financial pressure on students and families.
“His approach will reduce the underlying cost of education
and, after review, provide forgiveness for qualifying student debts so that
young Nigerians can graduate with hope rather than repayment burdens,” Shaibu
said.
“Education should open doors, not mortgage the future.”
Shaibu criticised the Federal Government’s presentation of
NELFUND as evidence that education has become more affordable, arguing that
tuition costs had risen before the loan scheme was introduced.
He described the current arrangement as a flawed economic
approach.
He argued that the government increased the cost of
education before introducing loans as a solution.
“You make education more expensive, lend students money to
survive the increase, and then demand applause for the rescue,” he said.
Shaibu insisted that a loan should not be confused with a
scholarship.
He added that the real test of any education policy is
whether families can keep their children in school without being forced to
borrow.
He also rejected claims that Atiku’s proposed energy policy
would threaten NELFUND or workers’ welfare.
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