The National Association of Nigerian Students (NANS) has called on the Federal Government to prioritise reducing the high cost of education rather than focusing on student loans.
Henry Okuomo, the Senate President of NANS, made this appeal during an appearance on Channels Television’s Sunrise Daily on Friday.
He argued that lowering education costs would be more beneficial to Nigerian students than the current loan scheme, which may be challenging to repay due to high unemployment rates.
“We’re unclear about who benefits from these loans, the application process, or the accessibility for students,” Okuomo said. “Many students have struggled to access these loans, and despite reaching out to NELFUND, we’ve received no response.”
Okuomo suggested that instead of offering loans, the government should significantly reduce tuition fees at tertiary institutions to between ₦20,000 and ₦50,000.
He emphasized that affordable education would be accessible to more students, whereas the current loan system, with its unclear repayment terms, may not be feasible for graduates struggling to find employment.
The student loan scheme, introduced by President Bola Tinubu as part of his flagship education initiative, aims to support low-income Nigerians in paying for tertiary education.
The Access to Higher Education Act, which establishes this legal framework, has led to the approval of 108 state-owned institutions for loan applications.
In July, the federal government announced it would disburse ₦850 million to students, in addition to the over ₦1.7 billion already distributed to around 20,000 students.
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NELFUND’s Managing Director, Akintunde Sawyer, noted that the fund had also approved 260,000 loans, including for institutional fees and upkeep, with an expected 1.2 million students set to benefit from the program.
Regarding internal disputes within NANS, Okuomo clarified that Pedro Chibuzor Obi is the legitimate President of the association.
He dismissed claims of a protest against fuel price increases organized by another faction led by Babatunde Akinteye, labeling them as “faceless individuals” manipulated by the government.
“NANS remains united under the leadership of Comrade Pedro Chibuzor Obi, and we do not recognize any other faction,” Okuomo asserted.
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