A fresh debate has emerged over Nigeria’s student loan policy following criticism by activist Omoyele Sowore, who described the initiative as ineffective and unnecessary for students.
Sowore, in a post on X, argued that Nigerian students should not depend on loans to access education, questioning why students should borrow when political leaders do not rely on loans for personal needs. He further described the scheme implemented by the Nigerian Education Loan Fund as “a trap, not a solution.”
His comments have since sparked mixed reactions among academics, policy observers, and social media users, with many defending the role of student loans in expanding access to higher education.
Some respondents pointed out that student loan systems are widely used in countries such as the United States and the United Kingdom, arguing that Nigeria’s approach is consistent with global practices. Others maintained that while governance challenges exist, financial support schemes remain necessary to bridge access gaps.
A contributor, Femi Yekinni, disagreed with Sowore’s position, noting that no country offers completely free tertiary education and that structured loan systems have supported millions of students globally.
Similarly, another commentator, Ayo Adebamowo, argued that Nigerian students cannot be excluded from funding models used in advanced economies if they are to remain competitive.
However, some voices echoed concerns about fairness and equity, suggesting that high-performing students should be prioritised for scholarships rather than loans, especially in a system already burdened by economic challenges.
The debate gained further attention following a post by Caleb Olugbenga Oladepo, the best graduating student of Ladoke Akintola University of Technology, who credited NELFUND support for enabling his academic journey.
Oladepo, who graduated with a first-class degree and a cumulative grade point average of 4.89, publicly acknowledged that the loan scheme made it possible for him to complete his studies.
The contrasting perspectives highlight ongoing tensions around education financing in Nigeria, as stakeholders continue to weigh the balance between access, affordability, and long-term sustainability.
While the Federal Government has positioned NELFUND as a key intervention to support students, the growing public discourse suggests that questions around its structure, impact, and alternatives remain far from settled.
