Mujeeb Akindoyin
The African Democratic Congress presidential candidate, Atiku Abubakar, has promised to review the operations of the Nigerian Education Loan Fund and introduce debt forgiveness for eligible beneficiaries if elected.
Atiku said young Nigerians should not be forced to begin their working lives under the burden of education loans, stressing that access to education should not translate into long-term financial hardship.
His position was contained 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 Federal Government’s student loan scheme.
According to Shaibu, Atiku’s proposed education financing policy would seek to reduce the underlying cost of education while reviewing existing student debts to determine those that qualify for forgiveness.
“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.
He added, “Education should open doors, not mortgage the future.”
Shaibu faulted the Federal Government’s presentation of NELFUND as evidence that education had become more affordable, arguing that the cost of education had increased before the introduction of the loan scheme.
He described the approach as an attempt to address the consequences of rising education costs through borrowing rather than tackling the underlying problem.
“You make education more expensive, lend students money to survive the increase, and then demand applause for the rescue,” he said.
The ADC presidential candidate’s aide maintained that education loans should not be presented as equivalent to scholarships, arguing that the effectiveness of education policy should ultimately be measured by whether families can keep their children in school without having to incur debt.
Shaibu also rejected suggestions that Atiku’s proposed energy policy would undermine NELFUND or adversely affect workers’ welfare.
He said the former vice-president’s position was centred on reducing the financial burden of education on Nigerian families and ensuring that graduates were not saddled with debts at the beginning of their careers.
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