One million students apply for NELFUND loan

...as Agency disburses over N116bn 

By Obasola Olatunde 

For many young Nigerians, the dream of higher education no longer ends at the door of financial struggle. The Nigerian Education Loan Fund (NELFUND) has announced that over one million students have now applied for its loan scheme with more than N116 billion already disbursed to learners across the country.

Since its official launch on May 24, 2024, the student loan initiative has become a lifeline for thousands of undergraduates in universities, polytechnics, and colleges of education, offering both tuition and upkeep support to ease the burden of schooling costs.

In a statement issued by NELFUND’s Director of Strategic Communications, Mrs. Oseyemi Oluwatuyi, the agency described the milestone as a major leap in President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to make education accessible to all, regardless of income or background.

“This achievement goes beyond numbers; it represents hope and renewed trust in public institutions,” Oluwatuyi said, commending the resilience of young Nigerians who have embraced the opportunity to learn without fear of financial exclusion.

The Fund’s Managing Director, Mr. Akintunde Sawyerr, called the moment “a defining chapter in Nigeria’s pursuit of equitable education financing.”

“Crossing the one million mark shows that our young people still believe in education as the bridge to a better life,” he said. “It’s proof that sound leadership and thoughtful policies can truly change lives.”

Beyond disbursing funds, NELFUND says it is committed to building transparency, efficiency, and dignity into every part of its process ensuring that every qualified Nigerian can access support smoothly, regardless of location or social class.

Observers describe the Fund as one of the most successful public empowerment programmes in recent years, not just for providing loans, but for fostering national unity and shared opportunity among students from all regions and backgrounds.

As applications continue to grow, NELFUND stands as a symbol of what many young Nigerians call a renewed faith in the future proof that education, once again, can be a ladder, not a luxury.