The Nigerian Education Loan Fund (NELFUND) has announced a significant increase in the number of daily student loan applications, with over 1,800 submissions recorded daily. This surge follows the Fund’s sustained awareness campaigns across tertiary institutions.
Speaking at a Stakeholders’ Engagement and Technical Workshop in Abuja, NELFUND Managing Director, Mr. Akintunde Sawyerr, reassured participants that the growing volume of applications will not compromise the Fund’s standards or processing integrity.
“Our goal remains clear—to offer fair and seamless access to educational financing for all eligible students, including those admitted through JAMB and those in technical institutions,” Sawyerr stated.
He acknowledged existing challenges faced by students in polytechnics, monotechnics, and other technical institutions, particularly those enrolled in two-phase diploma programs, emphasizing that NELFUND is actively addressing these issues to ensure no student is left behind.
“For too long, students in technical education have been overlooked. Our mission is to remove financial obstacles that hinder their academic journey. This initiative is not static—it evolves with user feedback and system improvements,” he added.
The workshop brought together key stakeholders from technical institutions nationwide, focusing on the automation of the loan application and verification processes. Sawyerr described the engagement as a critical step towards achieving financial inclusion in Nigeria’s education sector.
He also praised the National Board for Technical Education (NBTE) for its role in regulating technical education and called for greater collaboration between institutions and NELFUND.
“We are not just giving out loans—we are investing in the future of Nigerian youth. Students must approach the scheme responsibly, understanding that it’s a loan with expectations, not a free gift,” he said.
NELFUND’s current data shows over 570,000 student registrations, with more than 515,000 applicants having successfully completed the loan application process. Sawyerr emphasized that while speed is important, the Fund must uphold due diligence to ensure transparency and accountability.
In his presentation, NELFUND’s Executive Director of Operations, Mr. Iyal Mustapha, urged higher institutions to prioritize timely data verification and maintain clear communication with students. He outlined the Fund’s threefold mission: easing financial burdens on students, ensuring equitable access to education, and guaranteeing prompt payments to institutions.
According to Mustapha, the loan process begins with student applications through NELFUND’s dedicated portal. These applications are screened for eligibility and forwarded to respective institutions for verification. Once verified, tuition fees are paid directly to the institutions, while upkeep allowances are credited to students’ personal accounts.
The engagement concluded with a renewed call for cooperation among stakeholders, stressing that every effort made must center on supporting the aspirations of Nigerian students.
“At the heart of all these efforts is a young Nigerian—full of dreams and determination. Everything we do is to support and sustain those dreams,” Sawyerr affirmed.
