The Nigerian Education Loan Fund (NELFUND) has expressed concern over the low number of female students applying for education loans compared to their male counterparts.
Speaking at the International Women’s Day celebration in Abuja on Monday, the Fund’s Managing Director, Akintunde Sawyerr, highlighted the gender disparity in loan applications.
Sawyerr, who was represented by NELFUND’s Head of Investments and Funds Management, Oluwatosin Sanusi, noted that only one in five applicants for the scheme is female.
“The NELFUND initiative is all about providing loans for students in tertiary institutions to pay for their fees and to take care of their welfare,” Sawyerr said.
He further explained that the program includes a skill acquisition component that covers educational fees and funds the purchase of equipment for entrepreneurship training. Beneficiaries of the skills acquisition program also receive a monthly stipend.
“Currently, we have a ratio of 4 to 1, which means for every four male applicants, we have just one female, which isn’t impressive,” he added.
To address this gap, Sawyerr said NELFUND is collaborating with women stakeholders to create awareness and encourage more female students to take advantage of the initiative. However, he stressed that loan repayment upon graduation and employment is crucial for the scheme’s sustainability.
“The timely repayment of loans will allow the initiative to expand, enabling more students across all government-owned institutions to benefit,” he said.
The education loan scheme is accessible to students in federal and state-owned universities and polytechnics. The skill acquisition loan, he added, is not limited to tertiary students alone.
The Minister of State for Education, Dr. Suwaiba Ahmed, commended the federal government’s initiative and urged students to make use of the funds to ensure financial challenges do not disrupt their studies. Ahmed, who was represented by her Special Assistant on Education and Quality Assurance, Dr. Mufida Hussain, emphasized the importance of gender equity in education.
“Achieving gender equity requires bold, swift and decisive steps, and we cannot afford to wait. So, we must act now to break barriers and create opportunities for women and girls,” she said.
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She reaffirmed the federal government’s commitment to gender equity and investment in gender-balanced initiatives.
The National President of Female Students of Nigeria, Ms. Choice Enebeli, also applauded NELFUND for advocating female participation in the loan scheme.
“Women’s rights are human rights, and we must continue to strive for a world where women and girls have equal access to education, healthcare, economic opportunities, and leadership positions,” she said.
Enebeli pledged to lead a nationwide awareness campaign on educational loans to encourage more female students to apply.
