The Nigerian Education Loan Fund (NELFUND) says applications for the student loan scheme have exceeded one million, less than a year after its launch in May 2024.
The Director of Strategic Communications of NELFUND, Mr. Oseyemi Oluwatuyi, disclosed this in a statement on Sunday in Abuja.
He described the milestone as a major achievement for the Tinubu administration’s Renewed Hope Agenda, noting that it demonstrates strong national acceptance and trust in the government’s social intervention programmes.
Oluwatuyi said the Fund had so far disbursed over N116 billion to students in universities, polytechnics, and colleges of education across the country to cover both tuition and upkeep allowances.
According to him, the initiative is designed to ensure that financial constraints do not prevent any qualified Nigerian from pursuing higher education.
Also speaking, the Managing Director of NELFUND, Mr. Akintunde Sawyerr, said surpassing the one-million mark was not merely a statistical feat but a reflection of the country’s renewed confidence in public institutions.
“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,” Sawyerr said.
He added that the Fund remained committed to improving service delivery, transparency, and inclusivity in its operations.
“The programme is non-discriminatory, providing equal opportunities to students from all ethnic and religious backgrounds,” he said.
Sawyerr reiterated that NELFUND would continue to work towards ensuring that no Nigerian student is denied access to education due to financial challenges.
The student loan scheme, established under the Nigerian Education Loan Fund Act, aims to promote equal access to tertiary education and support human capital development across the country.
