The Nigerian Education Loan Fund (NELFUND) has announced that it has received more than one million student loan applications since the launch of its scheme on May 24, 2024.
According to the agency, over N116 billion has been disbursed in loans to students across universities, polytechnics, and colleges of education, covering both tuition fees and living allowances.
In a statement issued on Sunday, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the milestone underscores the success of President Bola Tinubu’s Renewed Hope Agenda.
The statement described the achievement as a reflection of the government’s dedication to human capital development and inclusive national growth.
Speaking on the development, NELFUND’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, said the accomplishment marks a significant point in Nigeria’s pursuit of equitable access to education funding.
“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 stated.
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The Fund reiterated its commitment to continuous improvement of its processes to ensure that all qualified students, irrespective of their background or location, can access education financing transparently and efficiently.
“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.
“NELFUND is a non-discriminatory initiative that benefits Nigerians of all faiths and tribes—Christians, Muslims, and others across diverse ethnic backgrounds. It helps to 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,” the statement added.
