The Nigerian Education Loan Fund has reached a significant milestone with more than one million applications received through its student loan portal. The announcement was made in Abuja, marking what officials described as clear evidence of rising confidence in the student loan scheme launched in May 2024.
The development highlights the broader impact of the administration’s education reforms, which aim to remove long standing financial barriers and widen access to higher learning. Since its launch, the fund has disbursed more than N116 billion in loans across universities, polytechnics and colleges of education, covering tuition and upkeep allowances for students across the country.
The Managing Director of the fund, Mr Akinlunde Sawyerr, said the achievement reflects a turning point in Nigeria’s pursuit of fair and dependable education financing. He explained that crossing the one million mark represents a strong push from young Nigerians determined to continue their studies despite economic pressure. He described the response as a sign that sustained policy direction can secure long term social progress.
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The fund reaffirmed its commitment to improving the system and ensuring that every qualified applicant, regardless of background, can access support in a process grounded in transparency and efficiency. Officials noted that the scheme’s strength lies in its inclusive design, which welcomes Nigerians of all faiths and ethnic groups and aims to unite the country through broader educational opportunities.
NELFUND said the programme stands as proof that a well managed public initiative can drive change and improve lives. As it expands its operations, the fund maintains that no Nigerian should be denied the chance to study, develop or contribute to national growth because of financial hardship.
Enquiries and assistance can be directed through the fund’s official channels, including email, website and its social media platforms.
