The Nigerian Education Loan Fund (NELFUND) has announced over one million applicants have enrolled for the student loan scheme.
Spokesperson for the Fund, Mr Oseyemi Oluwatuyi, said the milestone was achieved less than a year after the programme was launched on May 24, 2024.
He described it as evidence that the scheme is gaining strong national traction and public trust.
Accordingly, he said over N116 billion had so far been disbursed to students across universities, polytechnics, and colleges of education in Nigeria, covering both institutional charges and upkeep allowances.
The statement quoted the managing director of the Fund, Mr Akintunde Sawyerr as saying that the achievement is a reflection of the success of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education.
“Crossing the one-million mark represents more than data; it symbolises 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 effort of all stakeholders driving this transformative agenda,” Sawyerr said.
He reiterated NELFUND’s commitment to continuous improvement in service delivery and ensuring that “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
The agency emphasised that the student loan programme is non-discriminatory, benefiting Nigerians across religious and ethnic backgrounds, and helping to promote unity through equal learning opportunities.
“NELFUND remains focused on ensuring that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” the statement added.
