Former Vice President Atiku Abubakar has pledged to review the Nigerian Education Loan Fund (NELFUND) and consider debt forgiveness for eligible beneficiaries if he wins the 2027 presidential election.
Atiku, the presidential candidate of the African Democratic Congress (ADC), made the position known through a statement issued by his senior special assistant on public communication, Phrank Shaibu.
The statement came in response to comments by President Bola Tinubu defending his administration’s economic policies and highlighting NELFUND as part of measures introduced to support Nigerian students.
Atiku’s camp rejected the argument that the student-loan programme should be presented as proof that higher education has become more affordable under the current administration.
According to Shaibu, Atiku believes that Nigerian students should not have to begin their working lives burdened by education-related debt.
He said an Atiku-led administration would seek to reduce the underlying cost of education while reviewing existing student loans to determine beneficiaries who may qualify for debt forgiveness.
Shaibu explained that the proposed approach would be aimed at allowing young Nigerians to complete their education without carrying excessive repayment obligations into their early working years.
He argued that the availability of loans does not necessarily mean education has become affordable, stressing that a loan remains a financial liability rather than a scholarship.
The Atiku camp also criticised the Federal Government’s handling of rising education costs, arguing that students should not have to borrow money simply to cope with increasingly expensive schooling.
Shaibu further linked the education debate to Atiku’s wider economic proposals, particularly his call for measures to reduce energy and transportation costs.
According to him, lowering the cost of energy and transport would improve the purchasing power of workers’ salaries while reducing some of the financial pressure faced by students and their families.
He also rejected claims that Atiku’s proposed policies would negatively affect NELFUND or workers’ earnings.
The former vice president’s pledge comes as political parties and presidential contenders begin positioning themselves ahead of the 2027 general election.
NELFUND was established to provide financial assistance to eligible Nigerian students pursuing higher education and skills development.
Atiku’s proposal, however, would represent a shift from relying primarily on student loans towards reducing education costs and potentially cancelling debts for students who meet specified conditions.
