THE NEED FOR INCLUDING GRADUATE/POST-GRADUATE CATEGORY IN THE NIGERIAN EDUCATION LOAN FUND (NELFUND)

 Happening at a time education in Nigeria needs a critical surgical operation, the Students' Loan Act (SLA) - 2024, is a lofty and laudable Federal Government intervention programme in education sector. As much as it is a well commendable public policy, it is undoubtedly embedded with avoidable inadequacies. Therefore, there is urgent need for revisiting it, in order to extend category of beneficiaries, since the current status only covers undergraduates in the universities, polytechnics, colleges of education, vocational schools, etc., with a strong conviction that such extension to graduate or post-graduate category - PGD, M,Sc and PhD - will in no little measure, guarantees rapid sustainable development, be it interest free or not. The aforementioned category definitely needs the programme more than the existing benefitting category.

WHY IT SHOULD BE EXTENDED?

1. The programme is optional and based on need. So, not too many Nigerians would be interested, since a lot of them - parents and guardians - can afford university education for their children and wards. The fund needed to sponsor the graduate or post-graduate category may not be what the government cannot afford.

2. The centrality of producing highly trained, skilled and competent work force. This involved tapping the abundantce of human resources by investing in it's development, to boost the Nigerians productive forces and increase her national productivity. Illiteracy is unarguably a sign of or a recipe for underdevelopment of any country, therefore, untrained, unskilled or not highly skilled population is inefficiently adequate for rapid development in Nigeria. Now, for this rapid development to take place, a large percentage of the country's population should be highly trained and skilled + The Nigerian Education Loan Fund (NELFUND) becomes a good opportunity to get this achieved, so that the willing and interested Nigerians who cannot afford it, can grab the opportunity with both hands

3. Research Purposes - Nigeria is really lagging behind, in terms of research. And research is very instrumental to development of countries. The Nigerian government land private institutions have not done enough in this regard.Since he graduate or post-graduate studies is basically research based, the extension of the programme to this category would definitely guarantee massive research activities which the country is in dire need of, to achieve sustainable development.

LIKELY EFFECTS OF EXTENSION TO GRADUATE OR POST-GRADUATE CATEGORY 

1. It will skilled labour and work force.

2. It will increase literacy rate in Nigeria.

3. It will guarantee or help achieve university autonomy in Nigeria.

4. It will increase funding and investment in education sector.

5. It will help reduce poverty rate in Nigeria.

6. It will enhance government placement of priority in education.

LIKELY WEAKNESSES OR FAILURES OF THE PROGRAMME 

1. Attitude of Nigerians towards government 's projects or programmes (public policies).

2.The fallen standard of education.

3. Inadequacy in strengthening or bolstering monitoring mechanisms by government.

4. Inability to gain employment immediately after graduation for quick repayment.