Victoria Mbangwa
The Nigerian Education Loan Fund (NELFUND) has raised concerns over the low participation of female students in its education loan scheme, calling for increased awareness and engagement to bridge the gender gap in access to financial aid.
Speaking in Abuja during an event marking International Women’s Day, NELFUND’s Managing Director, Akintunde Sawyerr, represented by the Head of Investments and Funds Management, Oluwatosin Sanusi, highlighted the stark gender disparity in applications.
According to Sawyerr, only one out of every five applicants for the student loan scheme is female, a ratio of 4 to 1 in favor of male students. He described the trend as “not encouraging” and stressed the need for more women to take advantage of the initiative.
“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.
“There is also another part of the initiative which is the skill acquisition.
“It is underway, and it would also cover educational fees and fund purchases of equipment for entrepreneurship training.
“The skills acquisition programme places students on a monthly stipend, which is laudable; however, we have fewer women who are taking advantage of this initiative.” He explained.
To address this issue, NELFUND is collaborating with female student groups and other stakeholders to boost awareness and encourage more women to apply. The Fund also reiterated the importance of loan repayment upon graduation to ensure the scheme’s sustainability and expansion.
Minister of State for Education, Dr. Suwaiba Ahmed, represented by Special Assistant on Education and Quality Assurance, Dr. Mufida Hussain, urged female students to maximize opportunities such as the NELFUND scheme to overcome financial barriers to education.
“Achieving gender equity requires bold, swift and decisive steps, and we cannot afford to wait. We must act now to break barriers and create opportunities for women and girls,” Ahmed said.
The National President of Female Students of Nigeria, Ms. Choice Enebeli, commended NELFUND for its efforts in advocating for female participation and pledged to lead awareness campaigns across the country to ensure more women benefit from the loan scheme.
With the Federal Government committed to gender-balanced policies, stakeholders are hopeful that increased awareness and targeted interventions will improve female participation in education financing initiatives.
