The Nigerian Education Loan Fund (NELFUND) has revealed that its student loan initiative will soon be broadened to include individuals pursuing vocational and technical skills training, marking a major shift in the Federal Government’s approach to human capital development.
NELFUND’s Managing Director, Akintunde Sawyerr, disclosed the upcoming expansion during an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. He explained that the adjustment mirrors the government’s long-term plan to strengthen both education and practical skill development across the country.
According to Sawyerr, President Bola Tinubu’s administration is determined to ensure that national development is not limited to graduates of formal universities but also powered by citizens equipped with employable technical skills.
“No country thrives on intellectuals alone,” Sawyerr said. “A nation needs people who can apply their strength, creativity, and technical skills to bring ideas to life. Those who work with their hands are just as essential as those who contribute theories from the classroom.”
He noted that although NELFUND initially concentrated on supporting undergraduates in higher institutions, the next phase of the scheme will allow beneficiaries in vocational and technical centres to access funding.
Sawyerr emphasized that Nigeria’s economic growth demands a strategic blend of academic knowledge and practical expertise.
“At NELFUND, our mandate covers vocational training as well. We haven’t launched that segment yet, but this administration has made it clear that skills development must be fully included,” he explained.
He added that various government ministries including the Ministry of Youth Development, Ministry of Education, and Ministry of Digital Economy are already driving different dimensions of skills training, from technical trades to digital and IT competencies.
Using an analogy, Sawyerr stressed the importance of applied knowledge in today’s Nigeria: “An engineer who can build is far more valuable than an engineer who can only design. At this stage of our national journey, we’re in what I describe as the ‘design, build, and operate’ phase.”
He assured Nigerians that the extension of the loan scheme to skills acquisition programmes will help create a more balanced workforce capable of meeting the nation’s developmental needs.