Jim Ovia Hails Tinubu’s Student Loan Initiative, Says NELFUND Has Opened University Doors for Thousands of Nigerians
Founder of Zenith Bank Plc and Chairman of the Nigerian Education Loan Fund (NELFUND), Jim Ovia, has commended President Bola Ahmed Tinubu for establishing the student loan scheme, describing it as a transformative initiative that is expanding access to higher education for thousands of young Nigerians.
Speaking in a recent interview, Ovia said the creation of NELFUND has removed one of the biggest barriers preventing many Nigerian students from pursuing university education. According to him, without the scheme, countless undergraduates would have been unable to enrol or continue their studies due to financial constraints.
Ovia, who has chaired the NELFUND Board since its establishment, noted that the programme has already recorded significant success, with universities across the country benefiting from the initiative. He dismissed concerns that the scheme is being abused, insisting that the fund is serving its intended purpose of giving deserving students access to quality education.
According to him, NELFUND is not only helping students pay tuition fees but also providing upkeep support, allowing beneficiaries to focus on their academic pursuits without the burden of severe financial hardship.
He encouraged Nigerian students to take advantage of the interest-free loan programme, stressing that investing in education remains one of the surest paths to personal development and national progress.
Ovia also expressed confidence that graduates who benefit from the scheme will be better positioned to secure employment, contribute meaningfully to the economy, and drive innovation across various sectors.
The student loan programme was introduced under President Tinubu’s administration following the enactment of the Student Loans (Access to Higher Education) Act, with NELFUND established to manage its implementation. President Tinubu appointed Jim Ovia as Chairman of the Board in April 2024, citing his extensive experience in banking, finance, and corporate leadership.
Recent figures released by NELFUND indicate that the programme has continued to expand rapidly. As of July 2026, the agency had received more than 1.8 million applications, approved loans for over 1.6 million beneficiaries, and disbursed more than ₦303 billion in tuition and upkeep support to students across Nigeria’s tertiary institutions.
Observers say the initiative represents one of the Federal Government’s most ambitious education financing reforms in recent years, aimed at ensuring that no qualified Nigerian is denied access to higher education because of financial limitations.
Published by: ProlificX Premium Network
