Group commends NELFUND over ₦242.4bn student loan disbursement

The Tinubu Stakeholders Forum (TSF) has commended the Nigerian Education Loan Fund (NELFUND) over its continued expansion, noting that the scheme has now disbursed more than ₦242.4 billion to over 1.38 million Nigerian students.

In a statement signed by its chairman, Ahmad Sajoh, and secretary, Danjuma Sada, the group described the development as a turning point in the democratisation of access to higher education in the country.

TSF said the student loan scheme, which is barely two years old, is already easing the financial burden on students while reshaping the learning experience across tertiary institutions nationwide.

It noted that beyond the figures, the real impact of the programme is reflected in the experiences of students who previously struggled with tuition payments or had to combine schooling with strenuous work but can now focus on their studies.

According to the group, many beneficiaries have described the intervention as a “lifesaver”, saying it has restored their ability to pursue academic goals without constant financial pressure. “It is gratifying that NELFUND is helping to entrench a new national culture—one where access to tertiary education is no longer determined by economic circumstance but by ability, ambition, and opportunity,” it stated.

TSF added that the scheme has also reduced the risk of school dropouts, particularly among students from low-income backgrounds, while the upkeep allowances have helped lessen dependence on family support.

The group further observed that over 1.77 million applications have been received, describing the figure as evidence of both strong demand and growing confidence in the initiative among Nigerian youths.

It commended President Bola Ahmed Tinubu for prioritising education reforms and called for sustained funding, transparency, and efficient management of the scheme to ensure wider reach, especially for students in underserved communities.