The Nigeria Education Loan Fund (NELFUND) has recorded a remarkable milestone in its first year of operation, with over 500,000 Nigerian students applying for loans through its official portal. This landmark achievement, reached within just 11 months, signals a major shift in the landscape of educational financing in Nigeria.
According to a statement issued by the Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the Fund has disbursed more than ₦53 billion to support Nigerian students with both institutional and upkeep loans. This includes funds for school fees, accommodation, and other essentials that enable students to focus on their academics without the distraction of financial burden.
She noted that the success of the student loan scheme so far highlights the critical need for accessible student financing in Nigeria and demonstrates the growing trust students and parents have in the scheme. “This milestone, achieved within just 11 months of operations, underscores the widespread relevance and urgency of NELFUND’s mission to democratize access to tertiary education, she said.
Speaking on the impact of the loan initiative, the Managing Director and CEO of NELFUND, Mr. Akintunde Sawyerr, emphasized the significance of this development not just in numbers but in meaning. “This is more than just a number. It is a signal of hope for families across Nigeria. We are witnessing a nationwide demand for opportunity, and NELFUND is proud to be at the heart of this transformation.”
He further added that since the launch of the loan application portal, students from every region of the country have shown active interest and participation. This validates the importance of the Fund and its central role in driving educational equity.
NELFUND reiterated its unwavering commitment to transparency, accessibility, and efficiency throughout the loan process. The agency also called on stakeholders—educational institutions, civil society, and the media—to support its vision of equitable education for all Nigerian youths.
In a separate advisory to schools, NELFUND urged institutions to stop withholding loan-related information from students, ensuring that beneficiaries are fully aware of their entitlements and can access their funds without bureaucratic delays.
- With a robust online platform and an accessible support team, NELFUND encourages interested students and the general public to learn more or submit inquiries through its official website: http://www.nelf.gov.ng or via email: clientsupport@nelf.gov.ng
