Over One Million Nigerians Apply for Student Loan Scheme — NELFUND
By Shalom Ikuvbogie
The Nigerian Education Loan Fund (NELFUND) says more than one million Nigerians have applied for the federal student loan scheme, marking a major milestone in the government’s push to expand access to higher education.
NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi, announced the figure in a statement on Sunday, describing it as a sign of growing trust in the initiative, which was launched on May 24, 2024.
According to him, the number reflects the strong appeal of the programme among students seeking relief from the rising cost of education.
So far, over ₦116 billion has been disbursed to students in universities, polytechnics, and colleges of education across the country, covering both tuition and living expenses.
The agency’s Managing Director, Akintunde Sawyerr, said the achievement highlights President Bola Tinubu’s commitment to inclusive education through his Renewed Hope agenda.
“Crossing the one-million mark goes beyond numbers,” Sawyerr said. “It represents renewed hope for a generation determined to overcome financial barriers to education.”
He added that the success of the programme reflects sound policy direction and the collective effort of stakeholders driving the scheme’s implementation.
NELFUND reiterated its resolve to make the loan process transparent and accessible, assuring that every eligible student, regardless of location or background, will have the opportunity to benefit.
The agency also noted that the programme is non-discriminatory, open to all Nigerians irrespective of religion or ethnicity, and aimed at promoting unity through equal educational opportunities.
“NELFUND remains committed to ensuring that no Nigerian is denied the chance to learn or contribute to national progress because of financial constraints,” the statement said.
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