Over one million Nigerians apply for student loan- NELFUND

The Nigerian Education Loan Fund (NELFUND) has announced that applications for the national student loan scheme have surpassed one million, less than a year after its launch on May 24, 2024.

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

According to the statement, over ₦116 billion has so far been disbursed to students across universities, polytechnics, and colleges of education in Nigeria, covering both institutional charges and upkeep allowances.

The Managing Director of NELFUND, Mr. Akintunde Sawyerr, described the milestone as a major achievement and a reflection of President Bola Ahmed Tinubu’s Renewed Hope agenda to expand access to higher education.

“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 stated.

He said the success of the programme demonstrates growing public trust in the scheme and the government’s commitment to inclusive education.

NELFUND emphasized that the student loan initiative is non-discriminatory and open to Nigerians of all backgrounds, regardless of ethnicity, religion, or location, thereby promoting national unity through equal learning opportunities.

The agency also reaffirmed its commitment to continuous improvement in service delivery, pledging transparency, efficiency, and dignity in its operations.

“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.