The Nigerian Education Loan Fund (NELFUND) has revealed that applications for the national student loan scheme have surpassed one million on its official portal — a record milestone for a government-backed social initiative under President Bola Tinubu’s administration.
In a statement released on Sunday by its Director of Strategic Communications, Oseyemi Oluwatuyi, NELFUND noted that the achievement comes less than a year after the scheme’s launch on May 24, 2024, describing it as clear evidence of the programme’s growing acceptance and credibility nationwide.
The agency disclosed that over ₦116 billion has been disbursed to students in universities, polytechnics, and colleges of education, covering tuition fees and living allowances.
Managing Director of NELFUND, Akintunde Sawyerr, said the milestone underscores the success of President Bola Tinubu’s Renewed Hope Agenda in expanding access to quality higher education across Nigeria.
“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.
“It is a testament to visionary leadership, sound policy design, and the collective efforts of all stakeholders driving this transformative agenda,” he said.
NELFUND reiterated that it is committed to continuous process improvement to make sure “every qualified Nigerian student, regardless of background or location, can access education funding with transparency, efficiency, and dignity.”
The Fund described the programme as non-discriminatory — saying it benefits Nigerians across religions and ethnic backgrounds — and is helping to unify national aspirations through equal learning opportunities.
NELFUND said it remains focused on ensuring “no Nigerian is denied the opportunity to learn, grow or contribute to national progress because of financial limitations.”