NELFUND hits 1M applications, disburses N116bn in 18 months

The Nigerian Education Loan Fund (NELFUND) says it has recorded over one million applications on its student loan portal.

In a statement on Sunday, Oseyemi Oluwatuyi, the fund’s director of strategic communications, said the fund has disbursed over ₦116 billion in student loans since the inception of the programme.

Oluwatuyi said the achievement “aligns with the present administration’s agenda in restoring faith in making higher education more accessible”.

The organisation stated that the loan covers institutional fees and upkeep allowances for students across universities, polytechnics, and colleges of education.

“With this milestone, NELFUND stands as a shining example of a government initiative that is working, authentic, effective, and truly transformative.

“The programme demonstrates that when leadership, vision, and accountability align, lasting change is possible.

“As the Fund continues to expand its reach and impact, it remains steadfast in its mission to ensure that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress because of financial limitations,” the statement reads.

Speaking on the achievement, Akintunde Sawyerr, the NELFUND managing director, described it as “a defining moment in Nigeria’s journey toward equitable education financing”.

“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he said.

The fund also reaffirmed its commitment to “continuous process improvement, ensuring that every qualified Nigerian student can access education funding with transparency, efficiency, and dignity”.

“It is a non-discriminatory initiative that benefits Nigerians of all faiths and tribes — Christians, Muslims, and others across diverse ethnic backgrounds,” NELFUND said.