The Nigerian Education Loan Fund (NELFUND) says it has recorded over one million student loan applications since the official launch of the scheme on May 24, 2024.
Gatekeepers News reports that the Fund also announced that it has disbursed more than ₦116 billion in student loans, covering both institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education nationwide.
In a statement on Sunday, Oseyemi Oluwatuyi, Director of Strategic Communications at NELFUND, described the achievement as a reflection of the impact of President Bola Tinubu’s Renewed Hope Agenda, underscoring the administration’s commitment to human capital development and inclusive growth.
The Managing Director and Chief Executive Officer (MD/CEO) of NELFUND, Akintunde Sawyerr, hailed the milestone as a defining moment in Nigeria’s pursuit of 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,” Sawyerr said.
“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda.”
The Fund reaffirmed its commitment to process improvement and transparency, pledging to ensure that every qualified Nigerian student—regardless of background or location—can access education funding with efficiency and dignity.
“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,” the statement added.
It also stressed that the scheme is non-discriminatory, benefiting Nigerians of all faiths and ethnicities, while fostering national unity through equal access to education.
“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,” the statement concluded.
