Abuja — November 3, 2025
THE Nigerian Education Loan Fund (NELFUND) has achieved a major milestone, recording over one million student loan applications since its official launch on May 24, 2024, just as it has disbursed a whopping N116 billion to beneficiaries across federal and state tertiary institutions.
This was disclosed in a statement issued on Sunday by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, who described the feat as a clear demonstration of President Bola Tinubu’s Renewed Hope Agenda in action.
According to the statement, the N116 billion disbursed covers both institutional fees and upkeep allowances for students in universities, polytechnics, and colleges of education nationwide.
NELFUND Managing Director/Chief Executive Officer, Akintunde Sawyerr, hailed the development as a “defining moment” in Nigeria’s push for equitable access to higher education.
“Crossing the one-million mark represents more than data; it represents renewed hope for a generation of Nigerians determined to rise above financial barriers to education,” Sawyerr said.
“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he added.
The Fund reiterated its commitment to transparency, efficiency, and inclusivity, stressing that the scheme is open to all qualified Nigerian students, irrespective of tribe, religion, or region.
“NELFUND is a non-discriminatory initiative that benefits Nigerians of all faiths and tribes—Christians, Muslims, and others across diverse ethnic backgrounds. It helps to unify the country by providing equal access to education and fostering shared progress,” the statement read.
It further assured continuous improvement in its processes to ensure that no eligible student is left behind due to financial constraints.
“With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative,” the Fund declared.
As the scheme expands, NELFUND said it remains focused on its core mandate: ensuring that financial hardship does not deny any Nigerian the right to education and national development.
