APPRAISAL OF THE LEGAL STATUS AND EFFICACY OF NIGERIA EDUCATION LOAN FUND

Abstract

Provision of free university education is one of the ways Government is directed to use to eradicate illiteracy under section 18(3)(c) of the Constitution of the Federal Republic of Nigeria, 1999 as amended. This is however qualified as this educational objective is to be attained “as and when practicable”. Besides, the said educational objective is declared non- justiciable under section 6(6)(c) of the Constitution of the Federal Republic of Nigeria, 1999 as amended. Hence, it has become a tall order to attain the constitutional target of free university education. Against this background, this paper interrogated the legal status and efficacy of the Nigeria Education Loan Fund set up by the federal Government of Nigeria. The paper found out that the Nigeria Education Loan Fund is standing on solid legal ground as it is established under the Student Loans (Access to Higher Education) (Repeal and Re-Enactment) Act, 2024 as a body corporate, that can sue and be sued. The paper also established that much as Nigeria Education Loan Fund is legally empowered to grant zero interest loans to students pursuing higher education, however, this is not a substitute for provision of free university education. It was therefore recommended among other things that the right to free university education should be made justiciable and operational without further delay so that Nigerian students can enjoy the desired and desirable constitutional threshold of provision of free university education.