The Nigerian Education Loan Fund (NELFUND) has recorded over one million applications on its student loan portal since the official launch on May 24, 2024.
The Director, Strategic Communications of NELFUND, Mrs. Oseyemi Oluwatuyi in a statement noted that the remarkable achievement underscores the far-reaching impact of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which is “restoring faith in government-led social empowerment programmes and making higher education more accessible to all Nigerians’.
Since its inception, NELFUND has disbursed over ₦116 billion in student loans, covering both institutional fees and upkeep allowances to students across universities, polytechnics, and colleges of education nationwide.
This milestone reflects the administration’s unwavering commitment to human capital development and inclusive growth.
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Speaking on the achievement, NELFUND Managing Director, Mr. Akintunde Sawyerr, described it as a defining moment in Nigeria’s journey toward equitable education financing.
“Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education.
It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he said.
He reaffirmed the fund’s commitment to continuous process improvement, ensuring that every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.
“With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative.
The programme demonstrates that when leadership, vision, and accountability align, lasting change is possible,” he said
He explained that NELFUND is a non-discriminatory initiative that benefits Nigerians of all faiths and tribes—Christians, Muslims, and others across diverse ethnic backgrounds, stressing that It helps unify the country by providing equal access to education and fostering shared progress.
“As the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” he added.
Victoria Ibanga