The presidential candidate of the African Democratic Congress, Atiku Abubakar, has promised to review the Nigerian Education Loan Fund scheme if elected.
He also plans to introduce debt forgiveness for qualifying students after reviewing the existing student loan system.
Atiku’s position was contained in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, on Tuesday.
Shaibu said Atiku believes Nigerian students should not begin their working lives with heavy education debts.
According to him, the former vice president would focus on reducing the cost of education. He added that the proposed review would create room for debt relief for eligible students.
“His approach will reduce the underlying cost of education and, after review, provide forgiveness for qualifying student debts so that young Nigerians can graduate with hope rather than repayment burdens. Education should open doors, not mortgage the future,” Shaibu said.
Atiku criticises NELFUND policy
The statement followed a post by President Bola Tinubu on X. In the post, Tinubu defended his economic policies while criticising Atiku’s position on the economy without mentioning him by name.
Shaibu rejected the use of NELFUND as evidence that education had become more affordable under the current administration.
He argued that some institutions had increased their fees before students received loans to cope with the higher costs.
“Celebrating NELFUND as proof that education has become affordable under your government is like setting school fees on fire and then boasting that you lent students a bucket of water,” he said.
Shaibu also questioned the decision to increase education costs before offering loans to students.
“What exactly is the wisdom in presiding over dramatic increases in school fees in some institutions, only to turn around and celebrate loans as the solution?” he asked.
The Atiku campaign official described the approach as “witchcraft economics.” He accused the government of creating financial pressure for students before offering loans as a solution.
“You make education more expensive, lend students money to survive the increase, and then demand applause for the rescue,” he said.
Shaibu defends Atiku’s economic plan
Shaibu further argued that student loans should not serve as evidence that education has become affordable.
Instead, he said the success of an education policy should depend on whether families can keep their children in school without borrowing.
He also accused the Presidency of trying to frighten students and workers over Atiku’s proposal to reduce energy costs.
According to Shaibu, the government had suggested that Atiku’s plan could affect NELFUND, workers’ salaries or the minimum wage.
“If your government has the arithmetic, Bola, publish it. Show Nigerians, line by line, how a transparently budgeted subsidy tied to Nigerian crude and domestic refining suddenly empties NELFUND or workers’ pay packets,” he said.
Shaibu maintained that Atiku’s plan would reduce energy and transportation costs. He said lower costs would allow workers to stretch their incomes further.
He added that cheaper transport would also reduce the amount students and families spend on basic needs.
“Reduce the cost of energy so that salaries buy more. Reduce transport costs so that less of a worker’s wage disappears merely getting to work,” he said.
The statement comes as Atiku and other opposition politicians intensify their preparations for the 2027 presidential election.
