Atiku Pledges Student Debt Forgiveness If Elected in 2027

African Democratic Congress (ADC) presidential candidate Atiku Abubakar has pledged to review the Nigerian Education Loan Fund (NELFUND) scheme and introduce debt forgiveness for qualifying students if elected president.

His Senior Special Assistant on Public Communication, Phrank Shaibu, made the commitment while responding to President Bola Tinubu’s claim that NELFUND demonstrates improved access to affordable education under his administration.

Shaibu rejected the argument, contending that rising education costs have pushed more students towards borrowing rather than making education genuinely affordable.

Shaibu described the government’s approach as “witchcraft economics,” arguing that reducing the underlying cost of education should take priority over expanding access to loans.

He said Atiku’s proposed reforms would combine efforts to lower education costs with a review of existing student debts, potentially allowing eligible graduates to have their loans forgiven. He also stressed that a loan should not be presented as equivalent to a scholarship or evidence that education has become more affordable.

Shaibu further rejected claims that Atiku’s proposed measures to reduce energy costs could undermine funding for NELFUND, workers’ salaries or the minimum wage. He challenged the Federal Government to publish the calculations supporting those claims, arguing that lower energy and transport costs could instead increase household purchasing power and ease the financial pressure on students.

The proposal places student debt at the centre of the emerging 2027 economic debate, while leaving questions over eligibility, funding and the scale of any proposed forgiveness unanswered.