Over One Applicants In Universities, Polytechnics, Others Apply For Student Loan Within A Year -NELFUND Reveals

Over one million applicants in public tertiary institutions in Nigeria have applied for the student loan scheme, the Nigerian Education Loan Fund (NELFUND) has revealed 

The Director of Strategic Communications, NELFUND, Oseyemi Oluwatuyi, who disclosed this in a statement, said the milestone was achieved less than a year after the programme was launched on May 24, 2024

NELFUND according to Oluwatuyi, has so far disbursed over N116billion to students across universities, polytechnics, and colleges of education across the country, covering both institutional charges and upkeep allowances.

The Managing Director of NELFUND, Akintunde Sawyerr, said the milestone reflects the success of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education.

He described it as evidence that the scheme is gaining strong national traction and public trust.

“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. “It is a testament to visionary leadership, sound policy design, and the collective effort of all stakeholders driving this transformative agenda.”

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 reiterated its commitment to continuous improvement in service delivery, ensuring that “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”

“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.