President Tinubu recounts US taxi driving as inspiration for Nigeria's student loan expansion

President Bola Tinubu used a recent social‑media post to remind Nigerians that he once worked as a taxi driver in the United States to pay for his university education. He explained that after arriving in the US he had to delay his enrolment for several months to save enough money, and that once in Chicago he took on a range of jobs to cover tuition, accommodation and living costs. Tinubu said these personal hardships inform his belief that every Nigerian child should have equal educational opportunity, regardless of family income.

The president highlighted the achievements of his administration in the education sector, noting that the Nigerian Education Loan Fund (NELFUND) has disbursed more than N372 billion in interest‑free loans to cover institutional fees and upkeep for students in public tertiary institutions. He also pointed to the technical and vocational education programme, which has attracted over 2.8 million applications and led to the rehabilitation of 38 technical colleges, with free tuition, boarding, textbooks and uniforms now provided in federal and selected state technical colleges.

Background

NELFUND was created under the Students Loans (Access to Higher Education) Act, which Tinubu signed into law in April 2024. The legislation removed previous family‑income thresholds and guarantor requirements, allowing eligible students to receive loans without their parents meeting a specified income level or providing guarantors. Repayment is scheduled to begin two years after completion of the National Youth Service Corps programme, with 10 percent of an employed beneficiary’s monthly salary deducted at source. In addition to the loan scheme, Tinubu’s government reached a new agreement with the Academic Staff Union of Universities that includes a 40 percent increase in certain staff benefits, although the details of that agreement were not fully disclosed in the sources.

Why it matters

The expansion of NELFUND directly affects millions of Nigerian students seeking higher education, offering financial relief for tuition and living expenses that have traditionally been a barrier to enrolment. By eliminating income thresholds and guarantor requirements, the fund aims to broaden access to students from lower‑income families. The technical and vocational education programme’s 2.8 million applications indicate substantial demand for skill‑based training, and the rehabilitation of technical colleges seeks to improve the quality of vocational pathways. Stakeholders, including student groups and educational unions, have responded positively to the increased loan availability, viewing it as a concrete step toward the president’s stated goal of universal educational opportunity.

What happens next

The loan repayment schedule will commence two years after beneficiaries complete their National Youth Service Corps service, with deductions tied to employment income. The government has not announced additional policy changes beyond the current loan framework, but the president’s emphasis on education suggests continued monitoring of loan uptake and technical college enrolment figures. Further details on the university staff agreement and any future expansions of the loan programme are expected to be communicated by the Ministry of Education in forthcoming briefings.