The Nigerian Education Loan Fund (NELFUND) says applications for its student loan scheme have surpassed one million, marking one of the largest responses to a government social intervention since the start of the Tinubu administration.
In a statement on Sunday, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the milestone was reached less than a year after the programme’s launch on May 24, 2024 — a sign, he noted, of growing national confidence in the scheme.
According to the agency, over ₦116 billion has already been disbursed to students in universities, polytechnics, and colleges of education nationwide, covering tuition and upkeep allowances.
NELFUND Managing Director Akintunde Sawyerr said the achievement underscores the impact of President Bola Tinubu’s Renewed Hope agenda in expanding access to higher education.
“Crossing the one-million mark represents more than numbers; it symbolises renewed hope for a generation determined to overcome financial barriers to education,” Sawyerr said. “It reflects visionary leadership, sound policy, and collective effort in driving this transformative initiative.”
The agency reaffirmed its commitment to transparent and inclusive service delivery, ensuring that every qualified student — regardless of background or location — can access funding with efficiency and dignity.
“NELFUND remains dedicated to ensuring that no Nigerian is denied the opportunity to learn, grow, or contribute to national progress due to financial constraints,” the statement added.
