ADC presidential candidate says he will review student loans, cut education costs and ease the financial burden on Nigerian graduates.
Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to review the Nigerian Education Loan Fund (NELFUND) scheme and introduce debt forgiveness for qualifying students if elected president.
Atiku’s position was disclosed by his Senior Special Assistant on Public Communication, Phrank Shaibu, in a statement issued on Tuesday evening.
Shaibu said Atiku believes Nigerian students should not be forced to begin their working lives burdened by heavy education debts. He said the former vice president would prioritise reducing the cost of education before reviewing the existing student-loan system and forgiving debts for students who meet the required conditions.
The statement was issued in response to President Bola Tinubu’s criticism of Atiku’s economic position in a post on X. Shaibu rejected the use of NELFUND as evidence that education had become more affordable, arguing that rising school fees in some institutions had increased the financial burden on families.
He accused the Federal Government of increasing education costs before offering loans to students struggling to pay the higher fees, describing the approach as “witchcraft economics.”
Shaibu maintained that student loans should not be presented as scholarships or proof of affordability, arguing that the success of education policy should be measured by whether families can keep their children in school without borrowing.
He also dismissed concerns that Atiku’s proposed plan to reduce energy costs would affect NELFUND, workers’ salaries or the minimum wage. According to him, lower energy and transportation costs would help workers and families stretch their incomes further and reduce the financial pressure on students.
Shaibu challenged the Presidency to publish detailed figures showing how a transparently budgeted energy subsidy tied to Nigerian crude and domestic refining would affect NELFUND or workers’ wages, insisting that Atiku’s proposed policies are aimed at reducing the cost of living rather than increasing students’ debt burden.