The Nigerian Education Loan Fund (NELFUND) has expressed concern over the low number of female students accessing its educational loans compared to their male counterparts.
The revelation was made on Monday, March 10, during a ceremony marking the International Women’s Day in Abuja.
Speaking at the event, NELFUND’s Managing Director, Akintunde Sawyerr, represented by Oluwatosin Sanusi, Head of Investments and Funds Management, highlighted that only one in five loan applicants is female—a ratio that he described as “not encouraging.”
“The NELFUND initiative is designed to assist students in tertiary institutions with loans to pay their fees and cater to their general welfare, We also have a component that focuses on skill acquisition, which covers both educational fees and equipment for entrepreneurship training. However, we have seen a significant gender gap in uptake, with just one female applicant for every four male applicants.” Sawyerr explained.
Currently, the ratio of male to female applicants stands at 4:1, which has raised concerns within the Fund.
Despite efforts to make the initiative accessible, Sawyerr acknowledged that fewer women were taking advantage of the opportunity.
“While the initiative includes a monthly stipend for those engaging in skills training, the number of women benefiting from this scheme remains disappointing, This is an area we are looking to address by collaborating with female stakeholders and raising awareness about the importance of utilising these opportunities.” he said.
The NELFUND initiative is not only aimed at aiding students in federal and state-owned universities and polytechnics, but also includes a loan programme for skill acquisition.
Sawyerr reiterated that the programme’s sustainability depends on timely loan repayments after graduation, which would allow the scheme to expand and benefit more students in the future.
“The future of this programme relies on the repayment of loans by graduates once they are employed. This repayment will help extend the reach of the initiative and ensure that more students can access the benefits,” he said.
In addition to NELFUND’s efforts, the Minister of State for Education, Dr Suwaiba Ahmed, praised the initiative for its potential to support students facing financial challenges.
Dr Ahmed, who was represented by her Special Assistant on Education and Quality Assurance, Dr Mufida Hussain, encouraged students to make use of the funds to ensure their studies are not interrupted due to financial constraints.
“The girl-child must optimise every opportunity to break barriers and achieve her aspirations. Achieving gender equity requires bold and decisive action, and we must not delay in providing these opportunities,” Dr Ahmed said.
She also emphasised the federal government’s commitment to gender equity, highlighting investments in initiatives that aim for a balanced representation of men and women in education and leadership roles.
The National President of the Female Students of Nigeria, Ms Choice Enebeli, also commended NELFUND for its efforts in advocating for greater female participation in the education loan programme.
Enebeli stressed the importance of equal access to education, healthcare, economic opportunities, and leadership positions for women and girls.
“Women’s rights are human rights, and we must continue to strive for a world where women and girls are not limited by their gender, I will lead a campaign to raise awareness of the educational loan opportunities available to female students across the country.” she said.
With efforts to address the gender disparity in the programme, NELFUND aims to empower more female students and provide them with the necessary resources to pursue their educational and entrepreneurial goals.
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