Atiku Vows to Scrap NELFUND, Offers Student Debt Forgiveness if elected

Atiku Vows to Scrap NELFUND, Offers Student Debt Forgiveness if elected

ADC presidential candidate slams Tinubu’s ‘witchcraft economics,’ says President raised school fees before offering loans as ‘rescue’

The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has vowed to review and effectively scrap the Nigerian Education Loan Fund (NELFUND) policy while providing debt forgiveness for qualifying Nigerian students if elected president in 2027. Atiku’s position was disclosed by his Senior Special Assistant on Public Communication, Phrank Shaibu, in a statement issued on Tuesday evening. The statement came in response to President Bola Tinubu’s recent post on X, in which the president criticised Atiku’s economic positions without directly mentioning him. Shaibu dismissed Tinubu’s invocation of NELFUND as proof that education had become more affordable under his administration, describing the argument as dishonest. He contended that the President had first driven up the cost of education before presenting loans as a rescue package. “Celebrating NELFUND as proof that education has become affordable under your government is like setting school fees on fire and then boasting that you lent students a bucket of water,” Shaibu queried. He described the arrangement as “witchcraft economics,” stating: “You make education more expensive, lend students money to survive the increase, and then demand applause for the rescue. That is not affordability. It is witchcraft economics: create the burden with one hand, offer debt with the other, and demand applause for the intervention.”

According to Shaibu, Atiku has already conducted a review of the existing student-loan framework and does not believe young Nigerians should begin their working lives under the weight of education debt. “His approach will reduce the underlying cost of education and, after review, provide forgiveness for qualifying student debts so that young Nigerians can graduate with hope rather than repayment burdens. Education should open doors, not mortgage the future,” said Shaibu. Shaibu insisted that a student loan, by its nature, could not be mistaken for a scholarship, and that the true measure of any education policy was whether families could keep their children in school without being forced into borrowing. He pointed out that government should not “parade the loan itself as evidence that the system is working” once the underlying cost of education has become prohibitive for ordinary families. He further accused the presidency of deploying scare tactics against Nigerian students and workers by suggesting that Atiku’s proposed energy intervention, targeted at Nigerian crude supplied for domestic refining, would somehow undermine NELFUND, cut salaries or reverse the minimum wage. “If your government has the arithmetic, Bola, publish it. Show Nigerians, line by line, how a transparently budgeted subsidy tied to Nigerian crude and domestic refining suddenly empties NELFUND or workers’ pay packets,” he demanded. Shaibu maintained that Atiku’s position was the direct opposite of what the presidency had claimed, insisting that reducing the cost of energy and transportation would leave workers’ salaries and students’ upkeep going further rather than less. “Reduce the cost of energy so that salaries buy more. Reduce transport costs so that less of a worker’s wage disappears merely getting to work. You cannot make life painfully expensive, push students towards debt to survive the consequences, and then frighten those same students that cheaper fuel will take their loans away,” he declared.

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Meanwhile, a NELFUND board member representing students, Comrade Umar Farouk Lawal, has faulted Atiku’s comments and challenged the former vice president to provide evidence that President Tinubu ordered an increase in tuition fees in tertiary institutions. Lawal, in a statement on Wednesday, said there was no evidence that President Bola Ahmed Tinubu ordered an increase in tuition fees in federal or state-owned tertiary institutions. He challenged Atiku and heads of tertiary institutions across the country to produce any presidential directive, circular, memo, or official document showing that President Tinubu ordered an increase in tuition fees. He described the allegation as misleading, saying political discussions about the education and future of Nigerian students should be based on facts and verifiable evidence. “As the Board Member representing Students on the Board of the Nigerian Education Loan Fund (NELFUND), I wish to state categorically that at no time has Mr. President ordered the increment of tuition fees in any federal or state-owned tertiary institution in Nigeria,” Lawal stated.

Lawal defended the NELFUND scheme, saying the Fund was established to ensure that financial difficulties do not prevent Nigerian students from accessing higher education. He cited figures indicating that more than 1.38 million students had benefited from the scheme as of April 2026, with over N242 billion disbursed for tuition and upkeep support. As of August 2026, the total disbursement had reportedly reached over N322 billion through more than 1.6 million student loan applications. He rejected the description of NELFUND as merely a response to alleged increases in school fees, saying such a characterisation misrepresented the purpose and impact of the Fund. “NELFUND is a major intervention designed to expand access to tertiary education and provide financial relief to students from families who may otherwise struggle to meet the cost of their education,” he stated.

Lawal also challenged Atiku to explain what aspects of NELFUND he intended to review and how his proposed alternative would improve on the existing system. “If Alhaji Atiku Abubakar believes that NELFUND requires a review, Nigerians deserve to know what exactly he intends to review, what aspect of the existing framework he considers inadequate, and how his proposed alternative will improve upon the support currently being provided to students,” he said. On reports that Atiku’s proposal could include debt forgiveness for qualifying beneficiaries, the NELFUND board member said Nigerians should be told how such a policy would be funded and implemented without undermining the sustainability of the student loan system. Lawal further clarified that decisions by individual tertiary institutions to review or adjust their charges should not automatically be attributed to the President. He noted that federal and state tertiary institutions have governing structures and authorities responsible for determining institutional charges within the applicable regulatory framework. He urged political leaders, particularly those seeking the presidency, to make constructive, evidence-based, and student-centered contributions to discussions on the future of education in Nigeria. “It will be wrong to discredit an initiative that has provided tangible assistance to millions of Nigerian students without presenting credible evidence to support such allegations,” he said. Bayo Onanuga, President Tinubu’s special adviser on information and strategy, and Daniel Bwala, special adviser on policy communication, were unavailable for comment. Text and WhatsApp messages sent to them had not been answered as of press time.

Atiku Vows to Scrap NELFUND, Offers Student Debt Forgiveness if elected