The Tertiary Education Trust Fund (TETFUND) and the Nigeria Education Loan Fund (NELFUND) are revolutionising Nigeria’s education sector, according to Prof. Bidemi Lafiaji-Okunneye, Vice-Chancellor of the Lagos State University of Education (LASUED), Oto-Ijanikin.
Speaking to the News Agency of Nigeria (NAN) on Sunday, she lauded their impact under President Bola Tinubu’s administration.
Lafiaji-Okunneye highlighted that TETFUND had been instrumental in training over 35,000 teachers since 2023 in collaboration with the State Universal Basic Education Board (SUBEB).
This enhanced access to TETFUND had also significantly improved infrastructure development and revitalized the research culture within institutions, she said..
The Vice-Chancellor also praised the introduction of NELFUND, asserting that it has brought stability to Nigerian students and eased financial stress on parents.
She noted that over two trillion naira had been disbursed to schools for student benefits since 2023.
“NELFUND has aided students to concentrate on studies without the burden of some going to do menial jobs to pay school fees.
“Availability of this fund has removed that social inequality that predisposes many into distractions that bears negatively on one’s performance.”
According to Lafiaji-Okunneye, the fund has been “instrumental to the recent harvest of First Class graduates from the universities across board because students now internalise the research culture and are more focused”.
She emphasised its “good social redeeming value” , which she said, fostered patriotism among beneficiaries and a sense of belonging among parents.
Lafiaji-Okunneye further commended the administration’s investment in Information and Communication Technology (ICT) and technical education.
She noted that students were embracing technological trends to produce commercially viable products, showcasing innovations from laboratories and technical workshops, such as metal waste bins, electronic voting systems, and “banking made easy” software.
She urged the government to encourage institutions and innovators by facilitating the acquisition of patents for these products and supporting their commercial production.
According to her, she believes it will enable institutions to delve into further research that can advance life and national development.
NAN reports that the Tinubu administration, upon its inception in 2023, enhanced TETFUND’s operations and introduced NELFUND to help students pay tuition fees, with repayment commencing three years after graduation.
