Explainer: The History of Student Loans in Nigeria and Why Nelfund Falls Short
Drawing from historical data and policy developments, tracing the trajectory from the 1972 Students Loan Board to the present-day Nigerian Education Loan Fund (NELFUND), highlighting patterns of weak implementation, poor recovery, and governance gaps. Asefon Abdulganeey Stephen examines the origins, evolution, and recurring challenges of Nigeria’s student loan system, with the aim of interrogating whether the current framework can deliver equitable access to higher education without repeating past failures.
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