The Managing Director/Chief Executive of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has declared that the Fund will not tolerate arbitrary and continuous increases in tuition fees by tertiary institutions, warning that such practices undermine the objectives of the Federal Government’s Student Loan Scheme.
Speaking during an interview on Arise Television Sunday 5th July in Lagos, 2026, Mr. Sawyerr said the student loan initiative was established to remove financial barriers to higher education and should not become an avenue for institutions to impose additional financial burdens on students and their families.
According to him, NELFUND is closely monitoring reports of persistent tuition increases across some higher institutions and will continue to engage relevant authorities to ensure that charges remain fair, transparent and justifiable.
“We will not accept endless hikes in school fees by tertiary institutions,” the NELFUND boss said, stressing that the sustainability of the student loan programme depends on responsible conduct by beneficiary institutions.
He explained that the Fund was created to expand access to quality education, not to finance unjustified increases in institutional charges.
Mr. Sawyerr also expressed concern over reports that some institutions have delayed or refused to refund students who paid their tuition fees before NELFUND disbursed funds on their behalf. He described such actions as inconsistent with the objectives of the student loan scheme and assured affected students that the Fund was working with the institutions and other stakeholders to resolve the issue, adding that 34 tertiary institutions are currently under investigations.
He reaffirmed that NELFUND remains committed to protecting the interests of Nigerian students and preserving the integrity of the education financing initiative.
The Managing Director noted that institutions participating in the scheme must uphold the principles of transparency, accountability and fairness, adding that any attempt to exploit the programme through unjustified fee increases or withholding legitimate refunds would not be condoned.
He urged tertiary institutions to support the President Bola Tinubu’s efforts to make higher education more accessible by ensuring that tuition and other charges remain reasonable and in line with the spirit of the Student Loans (Access to Higher Education) Act.
NELFUND recently raised concerns over reports of arbitrary tuition increases and delays in refunding students whose fees had already been paid before the Fund released loan payments to their institutions. The Fund said it is engaging affected institutions and relevant authorities to ensure compliance with the objectives of the scheme and to safeguard the interests of beneficiaries.