Nigeria’s NELFUND Is Better Than US and UK Student Loan Models, UNIBEN Vice Chancellor Says

University of Benin Vice Chancellor Professor Edoba Omoregie says Nigeria’s Education Loan Fund (NELFUND) is a major initiative and offers better terms than student loan models in the United States and United Kingdom. He points to its interest-free loans, a repayment moratorium until borrowers begin working, and deductions of only a small share of their earnings. Omoregie praised President Bola Tinubu for replacing the initial version of the law, which he said had operational flaws, with a new bill enacted in 2024. He said, however, that he was unimpressed by the level of interest in accessing the fund so far.