The 2027 Presidential Candidate of the African Democratic Congress, ADC, Atiku Abubakar, has criticised the Federal Government’s student loan policy, vowing to reduce the cost of education and introduce debt forgiveness for qualifying student borrowers if elected.

Atiku’s position was contained in a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu. It was a response to President Bola Tinubu’s recent criticism of Atiku’s economic proposals.

Shaibu said Atiku had reviewed the Nigerian Education Loan Fund, NELFUND, policy and believes students should not have to take heavy debts just to access education.

“The good news for Nigerian students is that Atiku has reviewed the current student-loan policy,” the statement read.
“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 accused the Tinubu administration of making education more expensive and then offering loans to students to cope.

“That is not affordability. It is witchcraft economics: create the burden with one hand, offer debt with the other, and demand applause for the intervention,”* he said.
“A student loan is not a scholarship. It is a liability. The proper test of an education policy is whether ordinary families can educate their children without being pushed into debt merely to keep them in school.”

Shaibu also rejected the presidency’s claim that Atiku’s proposal for targeted and capped production support would undermine funding for NELFUND, workers’ salaries, or the minimum wage.

He challenged the government to publish its calculations on how the proposal would affect student loans and 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.

Shaibu said Atiku’s subsidy position is aimed at reducing living costs by lowering energy and transportation expenses.

“You cannot make life painfully expensive, push students towards debt to survive the consequences, and then frighten those same students that cheaper fuel will take their loans away,” he added.

Source: Atiku Media office.