I Will Scrap Student Loans If Elected President, Says Peter Obi

Former Anambra State Governor and Labour Party presidential candidate, Mr Peter Obi, has vowed to scrap Nigeria’s student loan scheme if elected president, describing the programme as wasteful and misaligned with the country’s economic realities.

Obi made the statement while speaking at a public forum, where he criticised the Federal Government’s approach to funding education and addressing the challenges facing Nigerian students.

According to him, piling loans on students in an already fragile economy would further burden young Nigerians and their families, rather than provide sustainable solutions to the education crisis.

“I will remove student loans when I become President. It is wasteful,” Obi said, arguing that education should be treated as a critical investment rather than a commercial venture.

He stressed that governments should prioritise adequate funding of public universities and other tertiary institutions, noting that properly managed resources would eliminate the need for students to rely on loans to access education.

Obi also faulted what he described as misplaced priorities in governance, insisting that funds currently lost to corruption and inefficiency could be redirected to improve the education sector.

According to him, investing directly in education infrastructure, lecturers’ welfare and research would yield long-term economic benefits and reduce unemployment and social instability.

The former governor’s remarks come amid ongoing debates over the Federal Government’s student loan policy, which was introduced to expand access to tertiary education for indigent students.

While supporters of the policy argue that it would help bridge funding gaps, critics have expressed concerns about repayment, implementation and the risk of increasing student debt in a country grappling with high unemployment and inflation.

Obi reiterated his commitment to what he described as people-centred governance, promising that education would remain a top priority under his administration.