The Nigerian Education Loan Fund (NELFUND) has announced that applications for its student loan scheme have exceeded one million, marking one of the most significant public responses to a government-backed social initiative since the start of President Bola Tinubu’s administration.
In a statement issued on Sunday by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, the agency described the milestone — achieved less than a year after the programme’s launch on May 24, 2024 — as a clear sign of growing national confidence in the initiative.
According to NELFUND, more than ₦116 billion has already been disbursed to students across Nigerian universities, polytechnics, and colleges of education, covering both institutional fees and upkeep allowances.
Managing Director of NELFUND, Akintunde Sawyerr, said the achievement underscores the
positive impact of President Tinubu’s Renewed Hope agenda on access to higher education.“Crossing the one-million mark represents more than just numbers; it symbolizes renewed hope for a generation of Nigerians determined to overcome financial barriers to education. It reflects visionary leadership, effective policy design, and the dedication of all stakeholders driving this transformative effort,” Sawyerr stated.
The Fund reaffirmed its commitment to continually improving its processes to ensure that every eligible Nigerian student can access education funding transparently and efficiently, regardless of background or location.
Describing the programme as inclusive and non-discriminatory, NELFUND emphasized that it serves Nigerians across all ethnic and religious lines, helping to strengthen national unity through equal educational opportunities.
The statement concluded that NELFUND remains steadfast in its mission to ensure that no Nigerian is denied the chance to learn, grow, or contribute to national development due to financial constraints.
