Founder of Zenith Bank Plc and Chairman of the Nigeria Education Loan Fund (NELFUND), Jim Ovia, has praised President Bola Tinubu for establishing the student loan scheme, saying it has enabled thousands of Nigerian students to gain access to university education.
Speaking in an exclusive interview with Channels Television, Ovia said the Federal Government’s education loan initiative has become a lifeline for many undergraduates who would otherwise have been unable to attend university.
He dismissed concerns that the scheme is being misused, insisting that NELFUND is fulfilling its purpose of expanding access to higher education.
According to Ovia, many universities across the country are already benefiting from the programme, while eligible students are receiving support to cover tuition fees and living expenses.
He encouraged Nigerian students to take full advantage of the opportunity, expressing confidence that completing their education would improve their chances of securing employment.
The NELFUND chairman said the initiative is helping to remove financial barriers that previously prevented many young Nigerians from pursuing university education.
According to figures released by NELFUND on July 4, 2026, the agency had disbursed ₦303.9 billion to 1,635,676 beneficiaries from 1,800,489 applications.
The agency also announced on July 9, 2026, that it distributed ₦1.5 billion to 6,129 students across three tertiary institutions for the 2025/2026 academic session.
The remarks were made during Ovia’s interview with Channels Television, where he highlighted the impact of the education loan programme and urged students to maximise the opportunity provided by the Federal Government.