The Nigerian Education Loan Fund (NELFUND) has expressed deep concern over the drastic increase in tuition fees by several tertiary institutions across the country, with hikes ranging between 20 and 521 percent.
In a statement, the agency described the development as worrisome, warning that such steep increments could place higher education further out of reach for many Nigerian students. NELFUND emphasized that the goal of its student loan initiative is to promote equitable access to education, not to cushion the effects of excessive fee adjustments.
According to the Fund, some institutions have implemented new fee structures without sufficient stakeholder engagement or consideration for the financial realities of students and their families. The agency noted that the surge in tuition costs could undermine the objectives of the government’s recently launched interest-free student loan scheme.
NELFUND also urged governing councils of universities, polytechnics, and colleges of education to reconsider their decisions and align with national efforts to make tertiary education more affordable and inclusive.
The Fund reiterated its commitment to working with the Federal Ministry of Education, regulatory agencies, and school authorities to ensure that quality education remains accessible to all, regardless of economic background.
By addressing this growing concern, NELFUND hopes to strike a balance between institutional sustainability and the right of every Nigerian student to affordable learning opportunities.
Shopeju Olateju
NaijaTravels News