NELFUND hits one million applications, disburses ₦116 billion to students
The Nigerian Education Loan Fund (NELFUND) has announced a major milestone, recording over one million student loan applications since the scheme was officially launched on May 24, 2024.
According to the agency, more than ₦116 billion has been disbursed in student loans, covering tuition fees and upkeep allowances for beneficiaries across universities, polytechnics, and colleges of education nationwide.
In a statement issued on Sunday, NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, said the achievement underscores the success of President Bola Tinubu’s Renewed Hope Agenda and his administration’s dedication to human capital development.
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Commenting on the development, NELFUND’s Managing Director and Chief Executive Officer, Akintunde Sawyerr, described the milestone as a defining moment in Nigeria’s quest for equitable access to education financing.
“Crossing the one-million mark represents more than numbers—it reflects renewed hope for a generation of Nigerians determined to overcome financial barriers to education. It is a testament to visionary leadership, sound policy design, and collective effort,” Sawyerr stated.
The Fund reaffirmed its commitment to transparency, efficiency, and inclusivity, ensuring that all qualified students—regardless of background or location—can access education funding with dignity.
“NELFUND stands today as proof that when leadership, vision, and accountability align, transformative change is possible. The programme unites Nigerians across all faiths and ethnicities by providing equal educational opportunities,” the statement added.
It further noted that NELFUND will continue to expand its reach to ensure that no Nigerian is denied access to quality education due to financial constraints.
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