Atiku Promises NELFUND Review, Debt Forgiveness For Qualifying Nigerian Students If Elected
Former Vice President Atiku Abubakar has promised to overhaul the current student loan system, including a comprehensive review of NELFUND and possible cancellation of eligible student debts.
According to Leadership on Tuesday, September 1, 2026, the position was disclosed by his Senior Special Assistant on Public Communication, Phrank Shaibu, in response to President Bola Tinubu’s recent reference to NELFUND as an achievement.
Shaibu faulted the federal government’s claim that NELFUND has made education affordable, arguing that families are still struggling with high institutional charges.
He described the government’s narrative as dishonest and urged it to address the root cause of high costs.
Reacting to the celebration of the loan scheme, Shaibu said touting NELFUND as evidence of affordability was contradictory.
He likened it to “setting school fees on fire and then boasting that you lent students a bucket of water,” questioning the logic of allowing sharp fee hikes and then presenting loans as the solution.
He further criticized the policy as “witchcraft economics,” saying it was wrong to make education costlier and then expect commendation for offering debt.
In his words, the approach “creates the burden with one hand, offers debt with the other, and demands applause for the intervention.”
According to Shaibu, Atiku’s plan is focused on bringing down the actual cost of schooling and ensuring graduates are not burdened at the start of their careers.
He said the former VP would work to “reduce the underlying cost of education” and grant forgiveness for qualifying loans so that young Nigerians can “graduate with hope rather than repayment burdens.”
The aide also rejected attempts to equate loans with scholarships, noting that education policy should be measured by how affordable it is, not by how much debt is issued.
Shaibu dismissed suggestions from the Presidency that Atiku’s proposed reduction in energy costs would threaten NELFUND, workers’ salaries or the minimum wage, challenging the government to provide proof.
He urged the administration to “publish it… line by line,” to show how a subsidy linked to domestic crude and local refining would deplete funds meant for students and workers.
He argued that lower energy prices would actually improve livelihoods and reduce pressure on students and families.
As he put it, government should make salaries more valuable and cut transport costs, instead of “making life painfully expensive” and then warning students that cheaper fuel would cost them their loans.
COURTESY: Officialupdatez
