NELFUND records 1m student loan applications

The Nigerian Education Loan Fund (NELFUND) has announced a historic milestone, recording over one million applications on its student loan portal since its official launch on May 24, 2024.

In a statement released on Sunday in Abuja, the Fund described the achievement as a major step forward in making higher education more accessible and affordable for Nigerian students in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

According to NELFUND, more than ₦116 billion has been disbursed so far in student loans, covering both institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide.

The Managing Director/Chief Executive of NELFUND, Mr. Akintunde Sawyerr, described the development 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,” Sawyerr said.

He reaffirmed the Fund’s commitment to improving its processes to ensure transparency, efficiency, and dignity in student loan access, adding that every qualified Nigerian—regardless of background or location—deserves an opportunity to pursue higher education.

The Fund also emphasized that the initiative is non-discriminatory, benefiting Nigerians across all religious and ethnic backgrounds, and helping to strengthen unity through equal access to education.

“NELFUND stands as proof that when leadership, vision, and accountability align, lasting change is possible,” the statement read.

The agency pledged to continue expanding its reach and impact, ensuring that no Nigerian student is denied education due to financial constraints.

For inquiries, the Fund urged the public to contact it via info@nelf.gov.ng or through its official social media handles on X (@nelfund), Instagram (@nelfund), Facebook, and LinkedIn (Nigerian Education Loan Fund – NELFUND).