NELFUND reaches one million student loan applications

The Nigerian Education Loan Fund (NELFUND) has announced that over one million students have now applied for its loan programme through the official portal.

This was revealed in a statement on Sunday by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi.

According to the statement, the achievement comes less than a year after the scheme was launched on May 24, 2024.

NELFUND described the milestone as evidence that the student loan programme is gaining strong national support and public confidence.

So far, the agency has disbursed more than ₦116 billion to students in universities, polytechnics, and colleges of education across Nigeria. The funds cover both school fees and living expenses.

Managing Director Akintunde Sawyerr said the success of the scheme reflects President Bola Tinubu’s Renewed Hope policy to make higher education more accessible.

“Crossing the one-million mark is not just about numbers,” Sawyerr said. “It represents hope for many Nigerians who can now pursue their education without financial worries. It also shows the result of good leadership, strong policy design, and teamwork.”

NELFUND assured that it will keep improving its processes to ensure that all qualified Nigerian students no matter their background or location can easily and transparently access education funding.

The agency emphasized that the loan programme is open to everyone, regardless of religion or ethnicity, and is helping to promote unity by giving equal learning opportunities to all.