Atiku Criticises Tinubu’s NELFUND Policy, promises Student Debt Forgiveness

Former Vice-President Atiku Abubakar has promised to reduce the cost of education and introduce student debt forgiveness for eligible beneficiaries if elected president in the 2027 general election.

Atiku’s position was contained in a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, following recent exchanges between the former vice-president and President Bola Ahmed Tinubu over economic policies.

According to Shaibu, Atiku has reviewed the Nigerian Education Loan Fund (NELFUND) policy and believes education should not leave young Nigerians burdened by debt.

“The good news for Nigerian students is that Atiku has reviewed the current student-loan policy,” the statement said.

“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 criticised the Tinubu administration for what he described as making education increasingly expensive while offering loans to students to cope with the rising costs.

He argued that student loans should not be presented as a substitute for affordable education.

“A student loan is not a scholarship. It is a liability,” he said.

Shaibu maintained that the effectiveness of an education policy should be measured by whether ordinary families can afford to educate their children without being forced into debt.

He further argued that if students increasingly need loans because the cost of education has become unaffordable, the government should not present the loan programme itself as evidence that the education system is functioning effectively.

Atiku’s Camp Challenges Presidency

Shaibu also criticised the presidency for using NELFUND to counter Atiku’s proposals aimed at reducing the cost of living, particularly through lower fuel and transportation costs.

He described claims that Atiku’s proposed targeted and capped production support could affect NELFUND, workers’ salaries or the minimum wage as “fallacious”.

Shaibu challenged the Tinubu administration to publish its calculations showing how Atiku’s proposal would affect funding for student loans and workers’ wages.

“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.

According to him, Atiku’s position on subsidies is primarily aimed at reducing the cost of living by lowering energy and transportation expenses.

He argued that the government should not make living costs more expensive, push students towards borrowing to cope with the situation and then warn them that cheaper fuel could threaten their loans.

The latest exchange is part of a growing war of words between Atiku’s camp and the presidency over the management of funds saved from the removal of petrol subsidy and the broader direction of Nigeria’s economic policies ahead of the 2027 elections.