The National Education Loan Fund (NELFUND) says it processed 550,000 loan applications, while disbursing N56,85 billion in 2024, in its effort to enhance higher education accessibility in Nigeria.
This was disclosed in a press release on Saturday, with the agency stating that the loans are to assist with the payment of tuition and living allowances for benefiting students.
The statement issued by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, revealed that since its establishment, the programme has enrolled over 600,000 students and has played a crucial role in closing the financial gap for many learners who might not have been able to pursue higher education.
“One year ago, we made a commitment to Nigerian students. Today, we are proud to fulfill that agreement. NELFUND is not just a loan programme; it serves as a pathway to opportunities, fairness, and national change,” the statement stated.
Read also:
- We may extend student loans to private institutions within 3 years – NELFUND
- Gov. Otu applauds NELfund’s transparent execution of student loan scheme
- Federal lawmaker partners NELFUND to expand students’ loan access in Isoko
The agency emphasized that the achievement of the NELFUND initiative results from its dedication to working alongside educational institutions, state governments, and student organizations.
“Support from the vision of President Bola Tinubu’s Renewed Hope Agenda has quickly elevated the NELFUND initiative as one of Nigeria’s most significant student-centered efforts in recent times.
“Through ongoing partnerships with educational institutions, state administrations, and student organizations, the fund remains aimed at expanding its outreach and enhancing the overall experience for student loans.
“As NELFUND looks ahead, it is unwavering in its goal to ensure that no Nigerian student is deprived of educational opportunities due to financial barriers,” it added.